1995 (8) TMI 143

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....g, Advocate, for the Appellants. Shri P.N. Das, SDR, for the Respondent. [Order per : G.P. Agarwal, Member (J)]. - These are four identically worded applications for dispensation of the mandatory requirement to pre-deposit the duty demanded that is to say Rs. 20,49,861/. Arguing on these applications, Shri Vinay Garg, the learned Counsel submitted that in the instant case, the demand was ....

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....o execute an undertaking before the Collector not to alienate their fixed assets corresponding to the duty amount in dispute in that case till the disposal of the appeal itself. He also drew our attention to the Tentative profit and loss account of the assessee for the year 1994-95 duly signed by the General Manager and Deputy Chief Accountant of the appellant company. He also took us through the ....

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....Notwithstanding anything to the contrary contained in any order or direction of the Appellate Tribunal or any Court or in any other provision of this Act or the rules made thereunder, every person who has collected any amount from the buyer of any goods in any manner as representing duty of excise, shall forthwith pay the amount so collected to the credit of the Central Government". Simultaneou....

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....rpreting the amended Section 11B has ruled that Section 11B has a retrospective effect. From the Tentative profit and loss account, we find that the sales of the appellants during the year 1994-95 was to the extent of Rs. 16,65,08,000/ and a provision for depreciation to the extent of Rs. 80 lakhs has been made out of cash profit during the year leaving a net profit of Rs. 1,09,000/. From the said....