2006 (2) TMI 391 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, New Delhi, granted waiver of pre-deposit of duty and penalty for a company declared as sick under BIFR due to deep financial crisis. The amount involved was Rs. 34,620/- and Rs. 1,62,050/-. Balance sheet showed a net loss of Rs. 57.10 crores. Recovery of duty and penalty stayed till appeal disposal.