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2003 (4) TMI 111 - SC - Central ExciseStay/Dispensation of pre-deposit - Sick industry - Non payment of pre deposit amount - Tribunal dismissed appeal - Assessee contends that in view of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (for short the Sick Industries Act ), the appellant need not deposit the amount - Held that - contention of the learned Counsel cannot be accepted for reasons more than one. First, this aspect was not the subject matter of the order under challenge and, secondly, Section 22 of the Sick Industries Act, provides relief in regard to the proceedings which relate to (a) winding up of the industrial company; (b) execution, distress or the like against any of the properties of the industrial company, (c) the appointment of a receiver in respect thereof, and (d) proceeding in regard to suit for recovery of money or for the enforcement of any security against the industrial company or of any guarantee in respect of any loans or advance granted to the industrial company. Payment of pre-deposit covered under Section 35F of the Central Excise Tax Act, 1944 does not fall under any of the above-mentioned categories in Section 22 of the Sick Industries Act - Decided against assessee.
The Supreme Court dismissed the appeal against the order of the Customs, Excise and Gold (Control) Appellate Tribunal, West Regional Bench at Mumbai. The Tribunal had dismissed the appeal for not depositing the required amount under Section 35F of the Central Excise Tax Act, 1944 within the allowed period. The appellant's argument citing Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was rejected by the Court. The appeal was dismissed without any order as to costs.
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