2000 (10) TMI 57 - HC - Central Excise

Summary

The High Court of Punjab & Haryana at Chandigarh quashed the order of the Custom, Excise and Gold Appellate Tribunal directing a petitioner to deposit Rs. 10 lakhs for waiver of duty pre-deposit. The Court found that the Tribunal misread the petitioner's balance sheet, which showed a profit of Rs. 34,000 instead of Rs. 41 lakhs. The Court allowed the writ petition, remitted the case to the Tribunal for a fresh decision on the application for stay, and set a deadline of 3 months for the Tribunal to decide.