- (1.) By means of the present writ petition filed under Article 226 of the Constitution of India, the petitioners seek a writ, order or direction in the nature of certiorari quashing the order dated 26th April, 2004 passed by the Customs, Excise & Service Tax Appellate Tribunal, New Delhi, respondent No. 1, filed as Annexure 8 to the writ petition and other consequential reliefs.
(2.) Briefly stated the facts giving rise to the present writ petition are as follows : A demand of Central Excise duty to the tune of Rs. 19,69,836/- has been confirmed by the Commissioner Central Excise (Appeals) which covers two periods i.e. June to March, 1994 amounting to Rs. 7,98,225/- and April to July, 1994 amounting to Rs. 11,71,611/-. The petitioners preferred an appeal before the Tribunal. Along with the appeal an application for waiver of pre-deposit of the duty was also made. The Tribunal by the impugned order had found that the merits .of the case are debatable and the financial position of the company is sound as they have cash in hand nearly Rs. one crore besides other assets etc. to the tune of Rs. seven crores. As seen from the balance sheet of 2002-2003. The Tribunal, however, granted partial waiver of pre-deposit and had directed the petitioner to deposit a sum of Rs. four lacs only.
(3.) Heard Sri Rakesh Kumar, learned counsel for the petitioner and Sri Ashok Singh, the learned Standing Counsel for the respondents.;