2006 (2) TMI 401

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..... pondent. [Order per : S.L. Peeran, Member (J)]. - By this stay application, the applicant is seeking waiver of pre-deposit of penalty amount of Rs. 1 lakh. The duty amount has already been recovered by encashing the bank guarantee. The applicant is also seeking waiver of interest amount of Rs. 3,27,612/-. The applicant had imported capital goods for curing of coffee beans. The applicants .....

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..... find that the bank guarantee for duty amount has already been encashed. The question in this appeal is with regard to recovery of interest and penalty. In terms of the cited judgments, the interest and penalty is not leviable since there has been part exports and part exports have been frustrated due to overseas conditions. Although the learned SDR distinguished these judgments, the applicability .....

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