TMI Blog2018 (12) TMI 1627X X X X Extracts X X X X X X X X Extracts X X X X ..... rned. The Central Board of Excise and Customs circular dated February 28, 2015, which contemplates that, the instalments may be granted is qualified. The instalments can be granted to an entity who is in financial distress - In the present case, there is nothing on record to establish financial distress. Balance sheet of the company is not on record. The petitioners not having made available su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs seek a direction for withdrawal of a letter dated October 23, 2018 issued by the respondent no.4. By the impugned letter, the authorities have frozen the bank account of the petitioner. Learned Advocate appearing for the petitioners submits that, the petitioners are in financial distress and therefore, are not in a position to pay the admitted liability under the service tax laws. He submits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y who is in financial distress. In the present case, there is nothing on record to establish financial distress. Balance sheet of the company is not on record. A portion of the balance sheet is sought to be relied upon in support of the contention that, the petitioners are in financial distress. The entirety of the document, that is, the balance sheet is required to be considered to return a findi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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