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TMI Blog2001 (5) TMI 788X X X X Extracts X X X X X X X X Extracts X X X X ..... Advocate, for the Appellant. Shri A. Chopra, JDR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. The applications are for waiver of deposit of duty of Rs. 1.08 crores and penalty of equivalent amount under Section 11AC of the Act and Rs. 10 lakhs on N.S. Patel, director finance of the manufacturer. 2. Elecon Engineering, the manufacturer was awarded on 5-5-1998 a con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t all clear what exactly become subsequently. It is clear that World Bank closed the loan intimated by letter of MSEB datad 30-6-1998. 4. It appears that various subsequent development took place as a result of discussion between the Government of India and Government of Maharashtra, so as to provide some relief to some contractors which were concerned with project. None of these relate to the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. The common Counsel for the applicant contended that the extended period of limitation would not be available to the department for the reason that the applicant did not come to know, till the visit of the officers in connection with an enquiry in December, 1999, that no payments had been made by World Bank to MSEB in pursuance of the loan after September 1996. He also contended that the fact o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her persons such as Ministry of Finance, Government of India being informed does not indicate the acquisition of knowledge by the manufacture before us. 8. Having regard to these facts, on limitation, we accept the offer made by the advocate to deposit Rs. 25 lakhs within two months from today. On such deposit, we waive deposit of the remaining duty and penalty on both applicants. 9. By order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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