2005 (3) TMI 652

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..... lant. Smt. R. Bhagya Devi, JDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. These are two applications for waiver of pre-deposit of Central Excise duty of Rs. 35,55,780/- and equal amount of penalty against M/s. Surya Fine Chemicals and penalty of Rs. 35 lakhs against M/s. International Flavours Fragrances India Ltd. 2.Shri R. Raghavan, ld. Counsel submits that A .....

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..... xcise Tariff Act; that immediately after pronouncement of the judgment in July, 1997 the applicants No. 1 filed declaration and started paying Central Excise duty; that subsequently the department made investigation and issued show-cause notice in January, 2001 for demanding duty for the period December, 1995 to June, 1997. Ld. Counsel submitted that the entire demand of duty is barred by limitati .....

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..... s carried to the Supreme Court. In view of the facts, prima facie the department s claim that the applicants should have classified their product under Chapter 21 only is not sustainable. We therefore stay the recovery of the entire amount of duty and penalty on the ground of demand prima facie being time barred. (Order dictated and pronounced in open Court) - - TaxTMI - TMITax - Central Exc .....

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