2003 (7) TMI 534

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....cate, for the Appellant. Shri Arun Chopra, DR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. - The application by Deek Printers is for waiver of deposit of Rs. 66.88 lakhs demanded as sum payable in terms of Rule 57CC and a penalty of equal amount. The application by Gurangbhai Thakore, its partner is for waiver of deposit of penalty of Rs. 10 lakhs. 2. The demand f....

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....ion in the Act for recovery of such an amount. 3. The departmental representative reiterates what the Commissioner has said, that the intention behind the rule was to provide for recovery of input credit used in the manufacture of exempted goods. 4. The question is not the one of intention but of translating that intention into statute. In the absence of a specific provision for re....