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2013 (10) TMI 1194 - HC - Central ExciseExtension of Period of Stay beyond 365 days – Interpretation of Section 35-C - Effect of Amendment u/s 35-C of Central Excise Act 1944 - Whether the CESTAT has erred in granting waiver of pre-deposit of assessed demand in favour of the respondents during pendency of the appeal – Held that:- the Judgemetn in Kumar Cotton Mills Pvt. Ltd. [2005 (1) TMI 114 - SUPREME COURT OF INDIA] cannot be interpreted to give powers to the Tribunal to extend the order of waiver of pre-deposit indefinitely. - Such an order is likely to be misused by the assessee. Entire object and purpose of insertion of sub-section 2A in Section 35C by Section 140 of the Finance Act, 2002 (20 of 2002) w.e.f. 11.5.2002 and third Proviso by Finance Act, 2013 will stand defeated, if the waiver of pre-deposit is granted indefinitely – the appeal is disposed of with directions to the CESTAT to decide the appeal expeditiously and if possible within a period of six months from the date of the extension – The waiver of pre-deposit will continue to be valid upto the period of six months from its last extension dated 3.6.2013. - Decided in favour of Revenue.
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