2014 (6) TMI 417

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.... Naik, Advocate, for the Appellant. Shri K.S. Mishra, Addl. Commissioner (AR), for the Respondent. ORDER Heard both sides. 2. The applicants filed these applications for waiver of Central Excise duty of Rs. 2,31,980 and customs duty of Rs. 93,93,304, interest and penalty. 3. The demand is in respect of capital goods as well as raw material which were procured by the applic....

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....stion for specified purpose in view of the B-17 bond executed at the time of import of the goods and not fulfilled the condition of the above mentioned notifications. The contention is that the goods were destroyed in fire and become unfit for use and they are entitled for remission and the demand is not sustainable. The contention is that the Hon'ble High Court of Karnataka in the case of CC, Ban....

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....y from the Insurance company. The applicants only insured the value of goods excluding the duty portion and received insurance claim of more than Rs. 3 crores as per the certificate given by the insurance company. 5. In this case the goods were destroyed in fire which were in the private bonded warehouse. As per the provisions of Customs Manual, the goods are to be fully insured against fi....