9911796707
TMI Blog2000 (10) TMI 348X X X X Extracts X X X X X X X X Extracts X X X X ..... pondents. [Order per : Gowri Shankar, Member (T)]. The application is for waiver of deposit of penalty of Rs. 1.11 crores approximately. The duty, equivalent to the penalty, and interest of Rs. 5 lakhs demanded in the order has already been deposited. 2. Duty had been demanded on redetermining the value of goods manufactured at the Deonar factory belonging to applicant, earlier known a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lue of the goods sold from the Deonar factory should be in accordance with the proviso under Section 4(1)(a) of Act. The applicant does not dispute the department's view regarding valuation of the goods. It had, of its own accord, paid the differential duty due on this score on 5-12-1998. 3. Penalty has been imposed on the view that the fact of sale of the goods to a related company was suppress ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The departmental representative's contention that the sale actually took effect on 1-6-1998 is no answer. Prima facie, if these statutory clearances had not been obtained, the sale could not have taken place. In imposing the penalty, a somewhat simplistic view appears to have been taken of the legal provisions. 5. We accordingly waive deposit of the penalty and stay its recovery. - - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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