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2012 (3) TMI 39 - HC - Central ExcisePlea for waiver of pre-deposit – manufacture of Asbestos Cement Sheets – denial of exemption under Notification No.6/2002 – Revenue denied the plea on ground that no prima facie case has been made out by the petitioner and no supporting documents had been furnished to substantiate existence of 'financial hardship' – Held that:- While dealing with the application twin requirements of considerations i.e., consideration of undue hardship aspect and imposition of conditions to safeguard the interest of Revenue have to be kept in view. In present case, it could be inferred that the petitioner has a strong prima facie case in the said appeal. Tribunal ought to have waived condition of pre-deposit, even if financial hardship had not been shown to exist or proved by acceptable evidence, as held by the Supreme court, in RAVI GUPTA Vs. COMMISSIONER OF SALES TAX, DELHI. However, in order to safeguard interests of the revenue, petitioner is directed to furnish a bank guarantee for a sum of ₹ 4.50 crores for hearing of the appeal by Tribunal.
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