2003 (10) TMI 498

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..... t. [Order per : Jyoti Balasundaram, Member (J)]. The application for waiver of pre-deposit of duty of Rs. 17,83,382/- and penalty of Rs. 5,50,000/- arises out of the order of the Commissioner of Central Excise (Appeals), Mumbai. The demand arises as a result of holding that the applicants had defaulted in payment of excise duty in terms of the fortnightly scheme provided under the Rules, .....

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..... y first portion of Clause (b) relating to discharge of duty liability by debit in account current alone has been referred to Clause (e) of the Rules. The applicants therefore cannot be said to have made out prima facie case for waiver on merits. We now come to the financial position as projected before us. The company has been declared as a sick industrial Unit by the BIFR. The balance sheet for t .....

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