https://www.taxtmi.com/caselaws?id=91775 The Tribunal found insufficient evidence to establish financial hardship claimed by two assessees and their directors due to losses in their companies. Despite some losses shown in the balance sheets, the lack of subsequent financial data and unsubstantiated loan claims made it challenging to accept the hardship. One company lacked evidence of recovery from losses, while the other presented a provisional balance sheet without BIFR application. The judgment emphasized the need for specific evidence of hardship for directors. The Tribunal directed a deposit to waive remaining obligations, considering the financial claims made. en-us Fri, 16 Apr 1999 00:00:00 +0530 Thu, 20 Oct 2011 17:56:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=91775 The Tribunal found insufficient evidence to establish financial hardship claimed by two assessees and their directors due to losses in their companies. Despite some losses shown in the balance sheets, the lack of subsequent financial data and unsubstantiated loan claims made it challenging to accept the hardship. One company lacked evidence of recovery from losses, while the other presented a provisional balance sheet without BIFR application. The judgment emphasized the need for specific evidence of hardship for directors. The Tribunal directed a deposit to waive remaining obligations, considering the financial claims made. Case-Laws Central Excise Fri, 16 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=91775