9911796707
TMI Blog2001 (11) TMI 474X X X X Extracts X X X X X X X X Extracts X X X X ..... , for the Respondent. [Order per : Archana Wadhwa, Member (J)]. We have heard Shri K.K. Banerjee, learned Advocate in support of the stay petition seeking dispensation with the condition of pre-deposit of duty amount of Rs. 1,83,15,279.00 (rupees one crore eighty three lac fifteen thousand two hundred seventy nine) and equivalent amount of personal penalty and Shri D.K. Bhowmik, learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... company has a poor financial condition and the same has been declared as a sick unit by BIFR and a package deal for revival of the unit is under consideration. 3. Shri D.K. Bhowmik, learned JDR appearing for the Revenue submits that Rule 57CC has an independent role and is a complete code by itself which requires the demand of 8% ad valorem duty whenever any of the product is cleared at nil rate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts of the case. However keeping in view the fact that the appellants unit is a sick industrial unit, which was declared by BIFR and revival package is under consideration, we dispense with the condition of pre-deposit of duty and penalty. Inasmuch as the amounts involved are on the higher side we fix the main appeal on out of turn basis on 18th December, 2001. - - TaxTMI - TMITax - Central Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X
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