1990 (3) TMI 159 - AT - Income Tax

Summary

The Appellate Tribunal CEGAT, Bombay ordered the applicants to deposit a sum towards duty and penalty, with their plant and machinery allowed redemption on payment of a fine. The Tribunal found no prima facie evidence of suppression by the applicants and granted unconditional stay and waiver of recovery of duty and penalty amounts. The department was directed not to dispose of the plant and machinery or interfere with the normal production process until the appeal was resolved. (Case citation: 1990 (3) TMI 159 - CEGAT, BOMBAY)