2010 (8) TMI 546

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....er].  - Applicant filed this Application for waiver of pre-deposit of penalty of Rs. 10,000/- (Rupees Ten Thousand only) (Rs. 5,000/- for each default). The proper officer asked the Applicants to file annual financial information statement as required under Rule 12(2) of the Central Excise Rules, 2002 and Applicants failed to do so. Hence the penalty was imposed. 2. The contention of A....

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.... is that penalty is rightly imposed. 4. I find that in this case annual financial information statement is required to be filed by the Applicant and Appellant had not filed the same during the period in question which is subject matter of the present Appeal and subsequently also. In these circumstances the Appeal is being taken up for hearing along with the Stay Petition. The Applicant relied upo....