Waiver of Pre-deposit Granted for Sick Company Facing Duty & Penalty

The Appellate Tribunal CEGAT, New Delhi granted waiver of pre-deposit of duty and penalty for a company declared a sick undertaking by BIFR with accumulated loss of over 20 crores. The duty involved was Rs. 10 lakhs and penalty was Rs. 3.5 lakhs. The appeal will be heard in due course.

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The Appellate Tribunal CEGAT, New Delhi granted waiver of pre-deposit of duty and penalty for a company declared a sick undertaking by BIFR with accumulated loss of over 20 crores. The duty involved was Rs. 10 lakhs and penalty was Rs. 3.5 lakhs. The appeal will be heard in due course. [Case: Jersly India Ltd. v. Commissioner of Central Excise, Delhi-III reported in 1999 (113) E.L.T. 87 (T)]

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