TaxTMI 
TaxTMI 
2001 (9) TMI 481
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....j, Member (J)]. - This miscellaneous application has been moved by the appellant seeking modification of the stay Order No. S/229/2001-NB(DB) dated 25-5-2001 on the ground that the impugned order of the Commissioner in appeal is prima facie illegal and that the financial position of the appellant had not been taken into account. This very ground has been contended by the learned Counsel, be....
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....ing complete waiver of the pre-deposit of the penalty amount of Rs. 3 crores. After hearing the arguments and on going through the record, the Tribunal through stay order dated 25-5-2001, directed the appellant to make a pre-deposit of Rs. 30 lakhs within 8 weeks from the date of receipt of the copy of the order out of the total penalty of Rs. 3 crores. 5. The contention raised by the Counse....
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....total waiver of the pre-deposit of the penalty amount was made out. Keeping in view of the facts and circumstances including the financial position of the appellant, he was directed to make a deposit of Rs. 30 lakhs out of total penalty of Rs. 3 crores. The fact that the appellant is in judicial lock up in some criminal case for committing fraud, is no ground to modify the impugned stay order and ....