https://www.taxtmi.com/caselaws?id=43888 The Tribunal's refusal to waive pre-deposit of excise duty and penalty was set aside because it rested on an erroneous factual assumption about the petitioner's profits. The Tribunal had proceeded on the basis of a profit exceeding Rs. 6 lakhs in the relevant year, whereas the record showed net profit of only Rs. 6,250.44 and a net loss in the following year. Since the discretion on waiver had to be exercised on correct financial facts, the matter was remitted to the Tribunal for fresh consideration in accordance with law. en-us Wed, 22 Dec 1993 00:00:00 +0530 Mon, 21 Jun 2010 16:55:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43888 The Tribunal's refusal to waive pre-deposit of excise duty and penalty was set aside because it rested on an erroneous factual assumption about the petitioner's profits. The Tribunal had proceeded on the basis of a profit exceeding Rs. 6 lakhs in the relevant year, whereas the record showed net profit of only Rs. 6,250.44 and a net loss in the following year. Since the discretion on waiver had to be exercised on correct financial facts, the matter was remitted to the Tribunal for fresh consideration in accordance with law. Case-Laws Central Excise Wed, 22 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43888