2009 (1) TMI 461

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....t. V. Raja Ram for the Respondent. ORDER M.V. Ravindran, Judicial Member - This application is filed by the applicant for waiver of pre-deposit of the following amounts : (i) Duty Rs. 50,43,302 (Rupees fifty lakhs forty three thousand three hundred and two only) under section 73(2) of the Finance Act, 1994, (ii) Demand of Rs. 1,00,866 (Rupees one lakh eight hundred and sixty six onl....

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.... 2. Learned Counsel appearing on behalf of the appellant would submit that the Adjudicating Authority has totally misdirected himself. It is his submission that the appellant herein is a partnership firm where there were three partners. One of the partners had brought a land in which the construction activity to be carried out to do. He would submit that the said partners are bringing the land....

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....g to a private firm called S.R.K. Gold Earth Constructions Pvt. Ltd. whose Managing Director is a partner of this appellant and partnership firm is consisting of another partner who a private company wherein also the same director is involved. It is his submission that when there is no evidence of bringing any part of the land, to the partnership firm, it can be considered as a land of the appella....

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.... partnership deed and we find from the deed that M/s. S.R.K. Gold Earth Constructions Pvt. Ltd. is one of the partner and M/s. Sairung Developers is the another partner. Both these partners came together and formed the firm SRK Construction who are the appellants before us. The deed of confirmation, agreement for land developing right is given in the name of current appellant by all the partners a....