2005 (12) TMI 99

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....of the precondition of deposit of demand for the entertainment of appeal. The Tribunal by the impugned order has directed the petitioner to deposit a sum of Rs. 15 lakhs as against the out standing dues amounting to Rs. 56,06,662.00 besides the penalty. 3.Learned counsel for the petitioner within his vehemence at his command submitted that Tribunal committed illegality in not to granting full waiver. He submitted that the petitioner's unit is lying closed since 1997. The demand was raised and the duty was levied on the basis of certain documents recovered at the Dharamkanta. Those documents have no bearing to the production activities of the petitioner's unit. He further submitted that proper opportunity of hearing was not afforded by th....

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.... with the first of the two writ petitions, that the entire assets of the petitioner firm is a little over Rs. 3 lakhs, while the case in hands is only amount Rs. 1000/- and odd. It is obvious that in this state of petitioner's financial condition, requiring the petitioner to furnish Bank guarantee for Rs. 4,50,000/- which, according to the communication of the Bank, could only be issued by it subject to deposit of the entire amount by the petitioner, coupled with the fact that during the previous three years, immediately preceding the year in question, the petitioner firm had been incurring losses, the requirement to furnish Bank guarantee for Rs. 4,50,000/- as directed by the Tribunal, would result in wiping out the entire business of the ....