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TMI Blog2005 (11) TMI 265X X X X Extracts X X X X X X X X Extracts X X X X ..... le in similar cases where the export obligation could not be fulfilled due to Global Economic crisis - set aside the penalties, interest and fine X X X X Extracts X X X X X X X X Extracts X X X X ..... rms of licence. The appellants had filed an application before the Settlement Commission admitting their liability and the Settlement Commission, by their order No. 50A/2001, dated 4-10-2001, directed them to pre-deposit the duty liability in six installments. They had failed to comply with the said terms and hence, proceedings were initiated and the duties and penalties have been confirmed. The i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4) E.L.T. 86 (Tri.-Kolkata) (v) Meirs Pharma (India) Pvt. Ltd. v. CC, Chennai - 2004 (167) E.L.T. 53 (Tri.-Chennai) (vi) Dyna Lamps & Glass Works Ltd. v. CC, Chennai - 2003 (157) E.L.T. 73 (Tri.-Chennai) (vii) Fal Industries Ltd. v. CC, Chennai - 2003 (159) E.L.T. 215 (Tri.-Chennai) It is contended by the Learned Counsel that in terms of the above cited judgments, the Tribunal has been plea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ducts became uncompetitive. Therefore, in spite of their best efforts, they could not find suitable markets or orders for exporting their goods and, therefore, this resulted in non-compliance of the export obligation within the time stipulated. The learned Counsel submits that in view of the cited judgments, the penalty, interest and fine should be set aside. 3.The learned JDR defended the order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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