2013 (12) TMI 1084

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....a : This is an application for waiver of pre-deposit of duty of Rs.12.39 Crores and equal amount of penalty imposed under Section 11AC of the Central Excise Act, 1944. 2. The ld. Advocate, Dr. Samir Chakraborty, appearing for the applicant, has submitted that the applicants are engaged in the manufacture of Ingot, Concast, Billet, TMT Bar, Angle, Channel, Joist etc. falling under Chapter 72 of C....

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....79 claimed to have been included in the total demand erroneously. 3. The ld. A.R. for the Department has submitted that since the sale price to independent buyers was available, hence, in view of the Larger Bench judgement of the Tribunal in the case of Ispat Industries Ltd. VS. Commr. of Central Excise, Raigad: 2007 (209) ELT 185 (Tri.-LB), the assessable value of stock transferred goods should ....

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....ants to their sister units. Also, we find merit in the arguments of the ld. Advocate for the applicant that an amount of Rs.3.65 Crores had been erroneously included in the demand and the ld. A.R. for the Department could not produce any contrary material to the said claim. In these circumstances, we direct the applicant to deposit Rs.2.00 Crores (Rupees two Crores only) within a period of eight w....