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2015 (1) TMI 1174 - BOMBAY HIGH COURTWaiver of pre deposit - Undervaluation of goods - Imposition of penalty - Whether the Tribunal erred in directing the deposit of a sum of ₹ 5,00,000/- by the HUF as also separately by the appellant - Held that:- Tribunal was not justified in imposing the condition of pre-deposit of the penalty amount. In the facts and circumstances of the case and when the appellants not being attributed any direct role in relation to the under-valuation of goods, the Tribunal should not have imposed a condition which prejudicially affects the right of the appeal conferred on the appellant by law. For all these reasons, we direct that on a deposit of the sum of ₹ 2,50,000/- by the HUF and which sum shall be deposited within a period of four weeks from today, there shall be waiver of pre-deposit and stay of recovery in so far as the amount of penalty directed against the appellant. Meaning thereby the appellant would not be required to deposit the sum of ₹ 1,00,000/- as directed by the Tribunal, in the event, our order passed today is complied by the HUF. If the order is not complied with, then, the direction issued by the Tribunal shall revive and non-compliance therewith to visit all the consequences in law. In the event, our order is complied, the Tribunal to hear the appeal in accordance with law. - Decided conditionally in favour of assessee.
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