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2013 (12) TMI 1295 - AT - Central ExciseClandestine Removal of Goods Undervaluation of tiles manufactured Clearance made by improperly declaring the retail sale price Waiver of Pre-deposit Held that - The Tribunal has been following judgment of Hon ble High Court of Gujarat that an assessee should deposit 8% of the amount of duty confirmed - The appellant has deposited an amount which is more than 8% of the duty liability - the amount already deposited is enough to hear and dispose the appeals Pre-deposits waived till the disposal Stay granted.
Issues: Stay petitions for waiver of pre-deposit of duty demand, penalty, and interest amounts confirmed by the adjudicating authority.
Analysis: 1. The stay petitions were filed seeking a waiver of pre-deposit for the duty demand, penalty, and interest amounts confirmed by the adjudicating authority. The duty demand for M/s. Icon Ceramics Ltd. was Rs.2,10,36,873/- along with an equal penalty amount, while Shri Bhavesh Kumar C. Patel faced a penalty of Rs.55,00,000/-. The adjudicating authority confirmed these amounts due to the undervaluation of tiles manufactured and cleared by improperly declaring the retail sale price. 2. The counsel for the appellants argued that M/s. Icon Ceramics Ltd. had already deposited Rs.25 lakhs during the proceedings, which was more than 8% of the duty confirmed. They cited a judgment of the Hon'ble High Court of Gujarat where it was held that an assessee should deposit 8% of the confirmed duty amount. Considering this, the counsel contended that the deposited amount was sufficient for hearing and disposing of the appeals. 3. After evaluating the submissions and reviewing the records, the Tribunal concurred with the counsel's argument. They acknowledged that the appellant had indeed deposited an amount exceeding 8% of the duty liability, as per the High Court's judgment. Consequently, the Tribunal deemed the deposited amount as satisfactory for the purpose of hearing and deciding the appeals. As a result, the applications for the waiver of pre-deposit for the remaining amounts were approved, and the recovery of those amounts was stayed until the appeals were resolved.
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