2008 (12) TMI 649

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....adan, DR, for the Respondent. ORDER The applicant filed this application for waiver of pre-deposit of tax of Rs. 3,24,00,000.00 (Rupees Three Crore Twenty Four Lakhs Eighty only) (sic) and penalties. 2. Heard both sides and perused the records. 3. The relevant facts of the case, in brief, are that the applicant was engaged in the business of real estate development and entered into con....

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.....R. reiterates the finding of the Commissioner and written objection dated 18-12-2008 filed by Revenue. He submits that the applicant had collected more amounts from the flat allottes then the contractor paid tax. He also submits that it is revealed from balance sheet that the applicant had assets of Rs. 107.00 crores approximately. 6. After hearing both the sides and on perusal of records, we ....