9911796707
TMI Blog2013 (9) TMI 244X X X X Extracts X X X X X X X X Extracts X X X X ..... ere different as is the situation for the period under dispute - Revenue not choosing to contest a matter which was of no consequence in terms of revenue collection cannot be a basis for deciding the matter at hand - Appellant's factory is closed down from the year 2002 - Applicant is a Joint Venture company and their subsidiary M/s. S&S Power Switchgear Equipment Ltd. is still working - Applicant failed to make out a prima facie case for unconditional stay – Applicant is directed to deposit a sum of Rs.1,00,00,000/- (Rupees One crore only) – Decided against the Assessee. - E/437/10 - - - Dated:- 12-4-2013 - P K Das And Mathew John, JJ. For the Appellant : Shri M Sri Prakash, Adv. For the Respondent : Shri KSVV Prasad, JC (AR) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner (Appeals) would indicate that Isolator Metallic itself is complete in all respects and therefore classification of goods under Chapter Heading 85.35 is correct. He also pleaded financial hardship. He placed Balance Sheet for the year 2011-12. 4. Ld. AR submits that there is no dispute that they are paying duty at 20% on all parts of Isolator under Chapter Heading 85.38 except Isolator metallic which suffered duty 10% under Heading 85.35. He submits that Isolator metallic is the most crucial part of the Isolators. He submits that affidavit filed by the applicant would indicate that the applicant's factory is closed down and the Revenue's interest should be protected. 5. After hearing both sides, on perusal of the records, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s closed down from the year 2002. As per the Balance Sheet, they have an accumulated loss of Rs.6.74 crores. Ld. advocate submits that applicant is a Joint Venture company and their subsidiary M/s. S S Power Switchgear Equipment Ltd. is still working. We find that applicant failed to make out a prima facie case for unconditional stay. After hearing both sides and considering the overall facts and circumstances of the case, we direct the applicant to deposit a sum of Rs.1,00,00,000/- (Rupees One crore only) within 8 weeks and report compliance on 24.6.2013. As the applicant's company is closed down and their fixed assets is Rs.3.73 crores, the applicant should file an undertaking before the jurisdictional Commissioner to the effect that they ..... X X X X Extracts X X X X X X X X Extracts X X X X
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