TaxTMI 
TaxTMI 
2014 (12) TMI 323
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....he appellants have already deposited more than Rs. 31 lakhs. The learned counsel on behalf of the appellants submitted that the issue as to whether rice bran fatty acids and rice bran wax are eligible for exemption under Notification No.89/95-CE dated 18.5.1995 is no longer res integra and he relies upon the decision in the case of Maheswari Solvent Extraction Ltd. 2014 (299) E.L.T. 116 (Tri.-Mumbai). He also submits that in the case of Sangrur Agro Ltd., unconditional waiver and stay against recovery was granted vide Stay Order No. SO/52009/2014-EX-DB dated 9.6.2014. On the other hand, the learned AR would submit that the appellant is not eligible for the benefit in view of the decision of the Hon'ble High Court of Madras in the case of S.....
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....ssue has to be decided only at the final adjudication of the appeal filed by the appellant before the Tribunal. The Tribunal while considering the prima facie case, has taken note of the product, which is in dispute viz. Palm fatty acid, and exercised discretion and directed the pre-deposit of Rs. 1 crore as against the total demand of Rs. 1,24.69,314/- as duty and equivalent amount as penalty and Rs. 1 crore as penalty on the Managing Director. 12. The learned Counsel for the appellant/assessee submitted that considering the conflicting views of the Tribunal, the assessee prays for reduction in deposit amount. Taking note of the reasons stated by the learned Counsel for th....
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.... referred to above had concluded that the by products viz., rice bran oil, wax and fatty acids were eligible for exemption under Notification No.89/95-CE dated 18.5.95. They sought to surrender their registration certificate and this was in reply to the letter of Range Officer dated 27.01.2011 wherein they had been advised that the exemption is not available. They intimated that they feel that they are not liable to tax and accordingly they requested that suitable clarification may be issued and their request for surrender of registration certificate may be accepted. Thereafter the surrender of registration certificate was accepted on 9.2.2011. On 16.3.2011 the Range Officer again wrote to them informing them that they could not have collec....