2004 (4) TMI 449

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....ant. Shri L. Narasimha Murthy, JDR, for the Respondent. [Order per : S.L. Peeran, Member (J) (Oral)]. -  For the purposes of hearing these appeals, the appellants are required to pre-deposit duty amount of Rs. 1,03,25,785/- and equivalent amount of penalty under Section 11AC, apart from penalty of Rs. 05 lakhs imposed on Shri Laxman Shenoy, Managing Director of the Company under Rule....

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....amination of entire evidence on records and has come to the conclusion that the charges made against the appellants are proved and hence the demands have been confirmed including penalty and personal penalty imposed on Shri Laxman Shenoy, Managing Director of the Company for his connivance and involvement in under-valuation and clandestine removal of goods. The appeal had been filed on 17-1-2002. ....

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....n for out-of-turn hearing of the appeals. 3. Ld. SDR opposes the prayer of the appellants and submits that the appellants do not have a case on merit as they maintained three sets of invoices and the goods were cleared clandestinely without payment of duty. He submits that the Bank statement also support the fact that the buyers had paid amount for sale of the goods. The entire investigati....

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....f goods without payment of duty. The learned Counsel did not argue the case on merit. It was his submission that since the Bank have taken over the possession of all the properties of the company, therefore, they are not in a position to pre-deposit any amount. On a careful consideration of the fact, we find, this itself cannot be a ground to grant full waiver of pre-deposit of disputed amount of ....