2009 (8) TMI 1066

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....pellant. Shri U. Raja Ram, JDR, for the Respondent. ORDER These stay petitions are directed against the waiver the following amounts, which have been confirmed by the Commissioner. (a)  Duty - Rs. 80,83,210/- & Education Cess Rs. 79,519/- (b)  Penalty - Rs. 81,62,729/- (c)  Applicable interest. (d)  Penalty - Rs. 10 lacs on Sh. Raghuram Prasad. (e) ....

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....cated above and also imposed equal amount of penalty and personal penalties on the Managing Director and Cost Accountant. 3.  Ld. Counsel would draw attention to the statement produced by them as regards assessable value arrived at by their cost accountant and the cost accountant appointed by the Revenue. He would submit that the applicant has paid excess duty on many of the items based up....

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.... which has been short paid as worked out by cost accountant. 5.  On careful consideration of the entire records of the case, we find that assessable value for the entire period as worked out by the applicant, is more than the assessable value as has been arrived the Departmentally appointed cost accountant. There may be a case where for some of the items, value/cost may differ, but at the ....