9911796707
TMI Blog2013 (1) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... e of investigation. We do not find any justification to waive pre-deposit of the balance of Customs duty demanded from the assessee. In favour of revenue X X X X Extracts X X X X X X X X Extracts X X X X ..... ards smart Cards was actually. Further, it appeared that the appellants deliberately stopped supplying to Independent buyers in India to show that no loading was required inasmuch as the prices to the appellants were at arms length and based on negotiations in the light of market prices. Officials of the company including Ex-Finance Controller and the Ex-Director have confirmed the manipulation of the market prices and furnishing of wrong information to the statutory authorities including the Tribunal. 2.3. The show-cause notices were issued to the appellants proposing demand of differential duty by loading the value to the extent of 35.67% and proposing imposition of penalties on the appellants. Four show-cause notices were issued coverin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.3. The learned Advocates appearing for the other two appellants submit that the services of both the appellants have been terminated by the company. The learned advocate for the Ex-Director, Shri Vijayaraghavan Parthasarathy also submits that he was not involved in any manipulation and therefore, penalty not warranted and that he also faces undue financial hardship apart from having poor health. The learned advocate for the Ex-Finance Controller, Shri Srinivasan Seshadri also submits that he is not earning much from his new job and, therefore, it will be undue hardship, if any pre-deposit is ordered. 4. The learned Additional Commissioner (AR), reiterating the findings of the Commissioner, submits that this was a clear case of under va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs. 5.2 crores stands deposited during the earlier proceedings including a sum of Rs. 2 crores paid during the course of investigation. We do not find any justification to waive pre-deposit of the balance of Customs duty demanded from the assessee. We also do not find justification for full waiver of penalty imposed on them. 5.3. However, as regards the penalties imposed on the other appellants, considering the entire facts and circumstances of the case, we deem it appropriate to show leniency in deciding the quantum of duty to be deposited by each of them. 6. In view of the above, the stay petitions are disposed of as follows : a) M/s Gemplus India Pvt. Ltd. shall deposit a further sum of Rs. 1,00,00,000/- (Rupees One crore only) to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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