TaxTMI 
TaxTMI 
2014 (12) TMI 312
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....g Counsel. ORDER Having heard learned counsel for the parties, we frame the following substantial question of law:- "Whether Customs, Excise and Service Tax Appellate Tribunal by the impugned order dated 18th July, 2014 was right in imposing the pre- condition on the appellant for deposit of Rs. 50 lacs for hearing his appeal on merits" With the consent of the parties, we take up the appeal ....
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.... similar amount has been imposed on him. Pursuant to the last order, the appellant has deposited Rs. 10 lacs. He has also filed his affidavit giving details of the investments made by him in the form of FDRs, saving bank accounts, bonds, securities, PPF account, including those of his spouse and children, who have not attained the age of majority. The appellant has deposited Rs. 10 lacs in terms o....
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....ty as well as to protect the interest of the Revenue, we feel that the pre-condition of deposit of Rs. 50 lacs is not justified and the said condition is modified as under: (i) The appellant will deposit a further sum of Rs. 5 lacs as a pre- condition for hearing of the appeal. (ii) The appellant will also furnish unconditional bank guarantee of Rs. 22 lacs to the satisfaction of the Registrar o....