Gwalior Polypipe Ltd. Vs. Commissioner of Central Excise

Gwalior Polypipe Ltd. vs Commissioner of Central Excise

Type Court Judgment Court Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi Decided Jun 15, 2006

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Citation: sooperkanoon.com/42883
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Judge: M Ravindran
Decided On: Jun 15, 2006
Subject: Excise

Case Summary

AI-generated summary - not the official court judgment text.

Excise

Key legal issue: Excise

Parties & Advocates

Appellant / Petitioner

Gwalior Polypipe Ltd.

Respondent

Commissioner of Central Excise

Excerpt

1. this stay application is directed against recovery of the demand of duty of rs. 34,521 /- (rupees thirty-four thousand five hundred and twenty-one only) and equivalent amount of penalty.2. the authorized representative appearing for the applicant submits that the factory is closed and he produces the documents moved for attachment of properties. it is also his submission that the factory is closed from 2003 and is not functioning as on date.3. considered the submissions made by both sides and perused records. i find from the balance sheet, (as produced by the representative) for the year ended 31st march 2005, there is a loss of rs. 11.34 crores (rupees eleven crores and thirty four lakhs only). further, i also find that the bankers who granted loan to the applicants, have already moved the debt recovery tribunal for attachment of properties. i find that the appellants are facing a great financial hardship and it would be difficult for them to deposit the amount of duty as well as the penalty.in view of the grave financial hardship, the condition of pre-deposit of the duty and penalty is waived and recovery thereof stayed till the disposal of appeal.

Full Judgment

1. This stay application is directed against recovery of the demand of duty of Rs. 34,521 /- (Rupees Thirty-four Thousand Five Hundred and Twenty-one only) and equivalent amount of penalty.

2. The authorized representative appearing for the applicant submits that the factory is closed and he produces the documents moved for attachment of properties. It is also his submission that the factory is closed from 2003 and is not functioning as on date.

3. Considered the submissions made by both sides and perused records. I find from the balance sheet, (as produced by the representative) for the year ended 31st March 2005, there is a loss of Rs. 11.34 crores (Rupees Eleven Crores and Thirty Four Lakhs only). Further, I also find that the bankers who granted loan to the applicants, have already moved the debt recovery tribunal for attachment of properties. I find that the appellants are facing a great financial hardship and it would be difficult for them to deposit the amount of duty as well as the penalty.

In view of the grave financial hardship, the condition of pre-deposit of the duty and penalty is waived and recovery thereof stayed till the disposal of appeal.

Same Court & Year Customs Excise and Service Tax Appellate Tribunal CESTAT Delh... Same Parties Gwalior Polypipe Ltd. vs Commissioner of Central Excise Same Subject Excise Same Judge M Ravindran