https://www.taxtmi.com/caselaws?id=251163 In stay and pre-deposit proceedings involving a company referred to BIFR, the Tribunal must apply binding precedent and record findings on the company's net worth; failure to do so is a material error requiring reconsideration. The Calcutta HC also reiterated that availability of an alternative statutory appeal does not create an absolute bar to writ jurisdiction under Article 226, especially where relevant materials have been ignored and interference is needed to prevent injustice. The impugned order was set aside and the matter remitted for fresh consideration of the stay application in accordance with law. en-us Tue, 12 Aug 2014 00:00:00 +0530 Fri, 07 Aug 2015 18:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251163 In stay and pre-deposit proceedings involving a company referred to BIFR, the Tribunal must apply binding precedent and record findings on the company's net worth; failure to do so is a material error requiring reconsideration. The Calcutta HC also reiterated that availability of an alternative statutory appeal does not create an absolute bar to writ jurisdiction under Article 226, especially where relevant materials have been ignored and interference is needed to prevent injustice. The impugned order was set aside and the matter remitted for fresh consideration of the stay application in accordance with law. Case-Laws Central Excise Tue, 12 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251163