TaxTMI 
TaxTMI 
2025 (6) TMI 123
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....n of pre-deposit to maintain the appeal has not been satisfied. The appeal under section 52 of Foreign Exchange Regulation Act, 1973 can be maintained after depositing the penalty imposed under section 50 of the Act. 2. The case has checkered history, thus it would be gainful to refer few facts relevant to the case. The appeal in the instant case was filed in the year 1996, after a writ petition bearing number 927/96 before the High Court of Judicature at Bombay. The writ petition was disposed of with a liberty to the appellant to approach the Appellate Board with the direction to condone the delay in filling the appeal, if it is filed before 20th July 1996 and in that case, the application for waiver of the condition of pre-deposit to be ....
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....en filed alleging that the order dated 04.04.2024 was not available online or mistakenly appellant recorded an incorrect date. The appellant could know about the order in the month of October, 2024 through the counsel as he was not aware of the date of listing on 23.07.2024 and finally it was dismissed on 31.07.2024. 6. The pleas raised by the appellant could have been considered sympathetically by this Tribunal provided the condition of pre-deposit would have been satisfied to maintain the appeal. 7. The counsel for the appellant submitted that the appellant is not in a position to deposit a sum of Rs. 25 lakhs to satisfy the condition of pre-deposit but partial amount of 5 lakhs can be deposited if a period of 8 weeks is given for it. T....
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....g the appeal in time: Provided further that where the Appellate Board is of opinion that the deposit to be made will cause undue hardship to the appellant, it may, in its own discretion, dispense with such a deposit either unconditionally or subject to such conditions as it may deem fit. (3) On receipt of an appeal under sub-section (2), the Appellate Board may, after making such further inquiry as it deems fit, confirm, modify or set aside the order appealed against and the decision of the Appellate Board shall, subject to the provisions of section 54, be final and if the sum deposited by way of penalty under sub-section (2) exceeds the amount directed to be paid by the Appellate Board, the excess amount shall be refunded. (4) The Ap....
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....ty of an amount not exceeding [two lakhs and fifty thousand rupees] [ Substituted by Act 29 of 1993, Section 26, for "fifty thousand rupees" (w.e.f. 8.1.1993). 8. In view of the provision quoted above and the order dated 04.04.2024 where it was made clear that if the amount of Rs. 25 lakhs is not deposited within 30 days, the appeal would stand dismissed, the consequence to follow. The operative para of the order dated 04.04.2024 is reproduced hereunder for ready reference:- In view of the of the aforesaid the interest of justice will be served if the Appellant deposits Rs. 25,00,000 (Rupees Twenty Five Lakhs Only) out of the total penalty imposed on him. The Appellant shall make the aforementioned pre-deposit within 30 days of the order....