https://www.taxtmi.com/caselaws?id=46152 An erroneous assessment of financial capacity can invalidate a pre-deposit condition where the Tribunal relies on a mistaken reading of the balance sheet. The High Court noted that the audited and unaudited accounts reflected profits of only Rs. 34,000 for the relevant year, not Rs. 41 lakhs as assumed by the Tribunal. Because that factual premise went to the basis of the stay direction, the deposit condition could not stand. The Tribunal's order was quashed and the stay application was remitted for fresh consideration. en-us Wed, 11 Oct 2000 00:00:00 +0530 Fri, 16 Jul 2010 11:02:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46152 An erroneous assessment of financial capacity can invalidate a pre-deposit condition where the Tribunal relies on a mistaken reading of the balance sheet. The High Court noted that the audited and unaudited accounts reflected profits of only Rs. 34,000 for the relevant year, not Rs. 41 lakhs as assumed by the Tribunal. Because that factual premise went to the basis of the stay direction, the deposit condition could not stand. The Tribunal's order was quashed and the stay application was remitted for fresh consideration. Case-Laws Central Excise Wed, 11 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46152