SAGARIKA ACOUSTRONICS PVT. LTD. vs UNION OF INDIA . — C.A. No. 1202/2007

Summary of C.A. No. 001202/2007 - Sagarika Acoustronics Pvt. Ltd. v. Union of India The Supreme Court granted special leave to appeal and disposed of Sagarika Acoustronics' civil appeal by remitting the matter to the Tribunal. The Tribunal had previously dismissed the assessee's appeal for non-deposit of Rs. 1.40 crores, but the company claimed BIFR status with a pending modification application. The Court directed the Tribunal to decide the modification application and determine the company's net worth; if negative, the appeal shall be restored for merit-based decision; if positive, the modification application shall be disposed per law. This case analysis is maintained by casestatus.in based on publicly available court records.