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2014 (9) TMI 443 - HC - Central ExciseWaiver of pre deposit - Held that:- Even as per the balance sheet, which was placed before the Tribunal, the appellant was having an accumulated loss of ₹ 6.74 crores. That apart, the appellant has also complied with the direction given by the Tribunal to give undertaking before the jurisdictional Commissioner to the effect that they shall not dispose of the plant and machinery used by their subsidiary unit till the disposal of the appeal before the Tribunal. Thus, considering the facts and taking note of the financial hardship pleaded by the appellant and the undertaking given by the appellant to the effect that they shall not dispose of the plant and machinery used by their subsidiary unit, we deem it proper that the interest of the Revenue be protected if the appellant is directed to pre-deposit a sum of ₹ 50.00 lakhs instead of ₹ 1.00 crore as ordered by the Tribunal within a period of eight weeks from today - Decided in favour of assessee.
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