2003 (3) TMI 524

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....the appellants did not deposit the amount in question, their appeal was dismissed for non-compliance vide Order No. A-l393/Kol/2002, dated 28-11-2002. 2. Shri S. Dasgupta, ld. Advocate appearing for the appellants, submits that the said Stay Order was challenged by way of filing of the Writ Petition before the Hon'ble High Court of Kolkata. The said Writ Petition stands disposed of by the Hon'ble High Court vide Order dated 10-2-2003 vide which the miscellaneous and final order dismissing the appeal was set aside and it was directed that the Tribunal will hear the application for review of the stay order afresh after taking in to consideration the documents filed by the petitioners. Accordingly, we have heard Shri S. Dasgupta, ld. Adv....

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....ards the financial position, Shri Mondal, ld. SDR, submits that in view of the fact that they have been maintaining two sets of balance sheets and profit and loss account, the balance sheet now produced before the Tribunal casts doubt about its authenticity. In any case, he submits that the balance sheet does not reflect poor financial condition of the appellants inasmuch as the share capital of the appellants is to the tune of Rs. 50 lakhs and Bank deposits are to the tune of Rs. 22 lakhs and 17 lakhs. He however submits that the reserve as reflected in the balance sheet produced by the appellants is to the tune of Rs. 20 lakhs for the year ending March, 2001 and to the tune of Rs. 8 lakhs for the balance sheet as on 31st July, 2002. Furth....