2010 (6) TMI 539

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....e Appellant. Shri C. Dhanasekaran, SDR, for the Respondent. [Order per : Jyoti Balasundaram, Vice-President].  -  Hard both sides on the application for waiver of pre-deposit of duty of customs of Rs. 423,13,822/- and excise duty of Rs. 22,27,604/- and penalty of Rs. 60 lakhs under the Customs Act and Rs. 10 lakhs under the Central Excise Rules. The demands stand confirmed again....

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....epreciation arises only on wear and tear of the capital goods and in case where capital goods have not been used for export obligation fulfillment, no depreciation can be granted. We also note the plea that Rs. 20 lakhs stands deposited as duty. The plea that further amount of Rs. 53 lakhs paid for debonding of the unit has to be considered as payment of duty and therefore the same has to be kept ....