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2015 (10) TMI 699 - PUNJAB AND HARYANA HIGH COURTWaiver of pre deposit - Mandatory pre deposit - Held that:- Appellant has been directed to deposit an amount of ₹ 2.00 crores in addition to the amount of ₹ 45.00 lacs already deposited while ordering stay of the balance amount of duty, penalty and interest. We may not disagree entirely with the discretion exercised by the Tribunal but as the Tribunal has found a prima facie case, the amount of pre-deposit assessed by the Tribunal is too steep and may render the right to agitate the appeal illusory. It would be appropriate to point out that Legislature has, during pendency of the appeal, amended Section 35F of the Act by requiring an assessee to deposit 7.5% of the duty demanded. The amendment may not apply to the appellant as the appeal was filed before the amendment but taking a clue from legislative intent, modify the order passed by the Tribunal - Partial stay granted.
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