TaxTMI 
TaxTMI 
2002 (11) TMI 420
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....icant). 2. The brief facts of the case are that the applicant had filed an application before the Settlement Commission admitting a duty liability of Rs. 69,19,519/-. The period of dispute, as shown in the application is 1-8-1993 to 16-5-1994 and the application is in respect of 9 Bills of Entry i.e. 4 Bills of Entry all dated 4-8-1993 filed at IGI Airport, Cargo Terminal, New Delhi; Bills of Entry No. 610, 611, 612 and 613 all dated 2-9-1993 filed at Custom House, Mumbai and Bill of Entry No. 3760, dated 16-5-1994 at Mumbai Custom House. The applicants have accepted an amount of Rs. 69,19,519/- as payable as against an amount of Rs. 1,10,80,909/- as demanded in the SCN. The details of the working out of the duty liability accepted ....
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....ferred to above and were, therefore, not entitled to the concessional rate of duty under the notification. The applicants were accordingly required to show cause as to why :- (a) The goods valued at Rs. 9,25,97,383.00 (Rs. Nine Crores Twenty Five Lakhs Ninety Seven Thousand Three Hundred Eighty Three Only) CIF and having assessable value of Rs. 9,35,23,360.00 (Rs. Nine Crores Thirty Five Lakhs Twenty Three Thousand Three Hundred Sixty Only), imported by them against the EPCG licence, should not be confiscated under 111(d) and 111(o) of the Customs Act, 1962. (b) The proportionate differential duty (Customs duty and Countervailing duty) of Rs. 1,10,80,909.00 (Rs. One Crore Ten Lakhs Eight....
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....n the ground that their unit is a sick unit and is already before BIFR. The Bench explained to the ld. Advocate of the applicant that the settlement proceedings are designed for expeditious resolution and in view of that it is not possible to grant them as many as 12 instalments. The ld. Advocate agreed that they would make payment of 20% of the admitted liability i.e. Rs. 13,83,903/- within thirty days and pay the balance amount in four equal instalments on monthly interval thereafter. The ld. Advocate also pointed out that they may be given slightly longer time and the instalments may be fixed at 6 instead of 5. The Bench explained to the applicant that after payment of the first three instalments as ordered, they are free to approach the....
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....rlier directions regarding payment of Rs. 13 lakhs towards admitted duty liability. The advocate explained at length the various financial hardships that the applicant are facing. He informed the Bench that the company is before the BIFR because of these difficulties. He stated that the financial position is so acute that they are unable to comply with the directions of Hon'ble Bench. 8.2. On a query from the Bench regarding loans and advances to the tune of Rs. 8 crores given by the applicant, the advocate explained that the loans and advances given by the applicant and informed that these are non-recoverable on account of various factors. He further stressed that the applicant did not want to shut down the business and would be wa....
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....tter is of the year 1993. Since the hearing was for deferment of admitted liability he should have such informations with him and produced the same at the time of hearing. 9. The Commission has gone through the case records, submissions made by the applicant and Revenue. 10. The Commission has also perused the balance-sheet submitted by the applicant and has noted the break-up of loan and advances and also the turn-over with the applicant vis-a-vis the admitted duty liability in this case. As stated elsewhere the Interim Order was passed indicating schedule of payment after due consideration of the pleas of the applicant and the financial hardship faced by them. It was expected from the applicant to have at least paid the fi....