2009 (12) TMI 757

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..... Katiyar, SDR, for the Respondent. ORDER The application filed by the assessee seeks waiver of pre-deposit and stay of recovery in respect of duty of Rs. 6.4 lakhs and equal amount of penalty. The application filed by a partner of the firm seeks similar relief in respect of the penalty of Rs. 60,000/- imposed on him. In adjudication of a show-cause notice, the original authority demanded th....

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....during 2002-03, to which Deepak B. Patel stated that they had only manufacturing income and no other income. However, the answer to the next question, which was crucial, was in the negative. The question was this: "Do you agree that cash income by a manufacturing company may be generated either by sale of inputs or capital goods or by sale of manufactured goods without recording in statutory recor....