2009 (9) TMI 732

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..... pondent. ORDER This stay petition is directed against waiver of pre-deposit of the following amounts. Service Tax of Rs. 4,26,78,338/- Penalty of Rs. 5000/- u/s 77 Penalty of Rs. 100/- per day up to 17-4-2006 and Rs. 200/- or @ 2% of the tax whichever is higher u/s 76. 2. Heard both sides and perused the records. 3. Confirmation of demand of service tax has arisen for the period 16-8-2002 t .....

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..... they have deposited an amount of Rs. 47,00,000/- as R&D Cess for the period 18-4-06 to 31-3-2007 and would submit that the benefit of Notification No. 17/04 will be applicable to them. It is his submission that the appellant/applicant is making loss and produces a balance sheet for the year ended 31st December 2008 and draws our attention to the profit and loss account and the balance sheet, whic .....

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..... nsidering the financial hardship as claimed by learned counsel, we direct the applicant to deposit an amount of Rs. one crore within a period of six months from today and report compliance on 10th March 2010. Subject to such compliance being reported, condition of pre-deposit of the balance amounts is waived and recovery thereof stayed till the disposal of the appeal. (Pronounced and dictated in .....

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