2012 (6) TMI 745

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....nt. Shri D.K. Nath, Deputy Commissioner (AR), for the Respondent. ORDER The Applicant filed this Application for waiver of pre-deposit of Rs. 43,94,701/- and equal amount of penalty imposed under Section 11AC of the Central Excise Act, 1944. 2. The contention of the Applicant is that their appeal had been dismissed by the learned Commissioner (Appeals) for non-compliance with the ....

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....he learned Commissioner (Appeals) is not sustainable, since capitalization is an accounting treatment governed by AS-10 issued by the ICAI and it has no connection with the levy of duty. In these circumstances, the confirmation of demand and imposition of penalty are not sustainable. In these circumstances, the Applicant are able to make out a case for total waiver of the pre-deposit. 3. H....