1999 (7) TMI 375 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi allowed the application for waiver of duty demanded Rs. 1,00,97,626/- and penalty of Rs. 50 lakhs. The Tribunal found that the goods were not marketable and the company was declared a sick unit under the Sick Industrial Companies Act, 1985. The duty demand and penalty were waived, and recovery stayed pending appeal. The appeal was scheduled for regular hearing on 28-10-1999.