TaxTMI 
TaxTMI 
1999 (6) TMI 179
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.... impugned order, they were heard together and are being disposed of by this common order. 2.  Arguing the stay petitions in the three cases as above Shri R. Chibber, ld. Counsel submits that M/s. Tosha International Ltd. are engaged in the manufacture of 14" and 17" picture tubes for Black & White TVs and for computer monitors. The raw material and components for the manufacture of picture tubes were either imported or procured through indigenous purchases. A team of Central Excise officers visited the factory premises of M/s. Tosha International Ltd. on 26-7-1996. On demand they could produce only some private records. No statutory records were made available to the visiting officers. On checking the records it was found that M/s. To....
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....a International Ltd. had imported glass neck tubes for manufacture of Black & White picture tubes availing the concessional rate under Notification No. 64/95. He submitted that after sometime, the factory became sick and stopped production; that since running of the factory was not found feasible, M/s. Tosha International Ltd. sold the remaining consignment of glass neck tubes to M/s. Essex Marketing after intimating the Assistant Commissioner on 25-7-1996. He submitted that differential duty amounting to Rs. 9,76,021/- was deposited on 5-8-1996; that there was no delay in deposit of duty. He submitted that intimation to the jurisdictional Assistant Commissioner under Rule 57F(1)(ii) could not be given as the staff dealing with the excise m....
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....ay be waived. 3.  Ld. DR Shri Sanjeev Srivastava submits that there is a violation of the conditions of the Notification; that non-accountal of the finished goods is also one of the issues; that the combined penalty also can be levied. He submitted that insofar as the financial condition of the company is concerned; the applicant has got sufficient bank balances and the current assets of the company were more than the current liabilities and that even if they are directed to deposit the entire amount of penalty, it will create no undue hardship. 4.  We have heard the rival submissions and have perused the evidence on record, we find that insofar as M/s. Essex Marketing (P) Ltd. is concerned, there appears to be a case prima faci....