2013 (6) TMI 507

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ther penalties. 2.2. Application by Shri Sanjay Agarwal, M.D. of M/s. Shree Radha Krishna Alloys Pvt. Ltd. seeks waiver of pre-deposit of penalty of Rs. 50 lakhs imposed on him under Rule 26 of the Central Excise Rules, 2002. 2.3. The other application by Shri Md. Sohaib, Accountant of Shree Radha Krishna Alloys (P) Ltd. seeks waiver of pre-deposit penalty of Rs.25,000/- imposed on him under Rule 26 of the Central Excise Rules, 2002. 2.4. Other applications by M/s. Indus Steels & Alloys Ltd., M/s. VRKP Steel Industries (P) Ltd., M/s. Chamundi Steel Casting (I) Ltd. and M/s Kali Metals (P) Ltd. seek waiver of pre-deposit of penalties of Rs.50 lakhs, Rs.11 lakhs, Rs.18 lakhs and Rs.7 lakhs respectively imposed on them under Rule 26 o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....  (f) The appellant-assessee also paid a sum of Rs. 7 lakhs during the course of investigation towards duty due on unaccounted clearances. 4.1. Learned advocate appearing for the appellant-assessee submits that statements of Vijay Sangani and Sohaib stand retracted by filing affidavit, though belatedly, and that the said affidavits were filed before the Commissioner along with reply to the show-cause notices. He also submits that Managing Director has not admitted to the modus operandi as stated by Shri Vijay and Sohaib. Learned advocate, on instruction, without prejudice to the submissions to be made at the time of final hearing makes an offer to pay an amount of Rs.25 lakhs as a pre-deposit to pursue the appeal. 4.2. On behalf ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....k book without having serial number. In a few cases it is admitted by the authorized signatory that the goods have been cleared using parallel invoices. We also find that the purchasers have also admitted to receiving the goods without payment of duty. Under these circumstances, the dispute, if any is only on the quantum of duty which has been evaded and note fact of evasion. In view of the above, we direct the appellant assessee to deposit a further sum of Rs.35 lakhs (Rupees Thirty five lakhs only) within 8 weeks from today (time limit as requested by the learned advocate) and report compliance to the Assistant Registrar on 08.10.2012 and Assistant Registrar to report to Bench on 15.10.2012. 6.2. We find that the Managing Director is p....