https://www.taxtmi.com/caselaws?id=251163 The High Court set aside the CESTAT's order directing a deposit of Rs. 1.14 crores as a condition for maintaining the appeal. The Court emphasized the importance of considering the net-worth of the petitioner's company, declared sick by BIFR, before such a directive. The Tribunal's failure to address the net-worth and misinterpretation of Supreme Court judgments led to the order being overturned. The High Court clarified the significance of the company's net-worth in deciding the waiver of pre-deposit under the Central Excise Act. The Tribunal was instructed to reconsider the matter within three weeks. 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 The High Court set aside the CESTAT's order directing a deposit of Rs. 1.14 crores as a condition for maintaining the appeal. The Court emphasized the importance of considering the net-worth of the petitioner's company, declared sick by BIFR, before such a directive. The Tribunal's failure to address the net-worth and misinterpretation of Supreme Court judgments led to the order being overturned. The High Court clarified the significance of the company's net-worth in deciding the waiver of pre-deposit under the Central Excise Act. The Tribunal was instructed to reconsider the matter within three weeks. Case-Laws Central Excise Tue, 12 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251163