https://www.taxtmi.com/caselaws?id=51533 Pre-deposit of duty and penalty may be waived where the applicant is a sick industrial company with a reference registered before BIFR and claims statutory protection under Section 22 of the Sick Industrial Companies (Special Provisions) Act. The applicants relied on their sickness reference, a prima facie High Court observation on limitation, and precedents granting waiver to sick companies, while the Revenue pressed for deposit to secure the demand. On those facts, the requirement of pre-deposit of the entire duty and penalty was waived in favour of the applicants. en-us Fri, 11 Oct 2002 00:00:00 +0530 Sat, 25 Sep 2010 12:38:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51533 Pre-deposit of duty and penalty may be waived where the applicant is a sick industrial company with a reference registered before BIFR and claims statutory protection under Section 22 of the Sick Industrial Companies (Special Provisions) Act. The applicants relied on their sickness reference, a prima facie High Court observation on limitation, and precedents granting waiver to sick companies, while the Revenue pressed for deposit to secure the demand. On those facts, the requirement of pre-deposit of the entire duty and penalty was waived in favour of the applicants. Case-Laws Central Excise Fri, 11 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51533