2014 (1) TMI 219

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....Per : Mr. M.V. Ravindaran; This stay petition is filed for the waiver of pre-deposit of Rs. 17.20.96,803/- confirmed as duty, interest thereof and equal amount of penalty and Rs. 5,00,000/- imposed as fine. 2. The above said amounts have been confirmed by the adjudicating authority as differential duty payable by the appellant on the under valuation of Aviation Turbine Fuel (ATF for short) clear....

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....ndertaking and in an organized sector, should have known the law better than an ordinary citizen. It is his submission that appellant should be directed to deposit entire amount of duty liability. 6. After careful consideration of the submissions made by both sides and perusal of record, we find that the provisions of Rule 7 of Central Excise Valuation Rules very clearly indicate that the excise ....