https://www.taxtmi.com/caselaws?id=124913 The Tribunal confirmed the demand of duty and penalty on M/s. Micro Polyester Pvt. Ltd. for diverting duty-free raw material to the local market. The appellant's financial hardship claim was considered due to being declared a sick unit, but concerns were raised about the undisclosed sale proceeds impacting the company's financial health. To safeguard Revenue's interest, the Tribunal required a pre-deposit of 25% of duty and 10% of the penalty, with non-compliance leading to appeal dismissal. Compliance verification was set for 8-10-2008. en-us Fri, 08 Aug 2008 00:00:00 +0530 Wed, 17 Oct 2012 10:55:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124913 The Tribunal confirmed the demand of duty and penalty on M/s. Micro Polyester Pvt. Ltd. for diverting duty-free raw material to the local market. The appellant's financial hardship claim was considered due to being declared a sick unit, but concerns were raised about the undisclosed sale proceeds impacting the company's financial health. To safeguard Revenue's interest, the Tribunal required a pre-deposit of 25% of duty and 10% of the penalty, with non-compliance leading to appeal dismissal. Compliance verification was set for 8-10-2008. Case-Laws Central Excise Fri, 08 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124913