2001 (1) TMI 497

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....on is for waiver of the condition of pre-deposit of penalty of Rs. 3,50,000/- imposed on Shri Radhey Shyam Gupta of Calcutta. 2. Shri K.P. Dey, ld. Advocate appearing for the appellant/applicant, submits that Shri Radhey Shyam Gupta is owner of the Transport-Company. He admits that the package containing raw silk yarn was seized from the premises of Shri Gupta. He, however, flatly denies the....

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....ase for waiver of the condition of the pre-deposit. He makes it clear that the goods are not claimed by Shri Gupta. Ld. Advocate also submits that Shri Gupta is running the Transport business on a small scale and in this connection he submits the income-tax return for the assessment year 2000-2001. 3. Shri R.K. Roy, ld. JDR appearing for the Revenue submits that the Department has come to a ....