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2013 (5) TMI 520 - CESTAT BANGALOREWaiver of pre deposits – Benefit of Notification No.21/2002-Cus is denied - Duty demanded - Aggrieved by the order appellant preferred an appeal to the Commissioner (Appeals) and same directed them to pre-deposit the amount, which they did not deposit. Accordingly the appeal is dismissed for non-compliance with Section 129E - As per appellant pre deposit will cause financial hardship. Held that:- Appellant has endeavored to set up financial hardships as a ground for substantial reduction of the amount for pre-deposit. In this connection, he has referred to profit and loss account as on 31.3.2011, balance sheet as on 31.3.2011, etc. we find a marked improvement of the financial position of the company. This apart, the income tax records indicating the latest financial status of the company at least as on 31.3.2012 are not forthcoming. The above records cannot be considered to reflect the latest financial position of the company. If the aforesaid trend of improvement of financial status from 2010 to 2011 has continued for 2012 and 2013, their financial position as on today will be much much better. In the above view of the matter, we would expect the appellant to pre-deposit the amount to enable the Commissioner (Appeals) to dispose of their appeal on merits. Thus, appeal stands allowed by way of remand.
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