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2014 (12) TMI 84 - HC - Service TaxWaiver of pre deposit - Banking and Financial Service and Business Auxiliary Service - Dishonour of cheque - Penalty u/s 76 & 78 - Interest u/s 75 - Tribunal asked for pre deposit of 1 crore - Financial hardship - Held that:- As regards the financial hardship pleaded by the assessee, the affidavit filed before the Tribunal, really points out that the assessee had a huge loss of nearly ₹ 200 crores. In the circumstances, placing reliance on the balance sheet entries, the assessee sought for total dispensation of the pre-deposit. As far as this aspect is concerned, the Tribunal has exercised its discretion on this and considered the financial hardship. We do not find any justifiable ground to substitute our view on this. However, on the reference to Rule 5 before the Delhi High Court is concerned, which the Tribunal will consider in the dispute raised by the assessee, as against the order directing the assessee to deposit a sum of ₹ 1 crore, interest of justice would be met by directing the assessee to deposit a sum of ₹ 50 lakhs within a period of six weeks from today. We make it clear that the reference to the Delhi High Court [2012 (12) TMI 150 - DELHI HIGH COURT] would not stand in the way of the Tribunal considering the case of the assessee on merits. - Decided partly in favour of assessee.
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