9911796707
TMI Blog2013 (11) TMI 439X X X X Extracts X X X X X X X X Extracts X X X X ..... ind that duty of around Rs.5.53 Crores stands confirmed against applicant alongwith imposition of penalty of identical amount. As per records the applicant is engaged in the manufacture of C.I. Ingots Moulds, Centre Column, Slag-pot, Bottom Plate. For the said purpose they use pig iron as also scrap, received from the dealers /manufacturers. During the year 2007-08 to February 2012 the appellant s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , to the dealers who were further clearing the same to the appellant at the higher value but the credit passed on was on the lower side. The said value difference in the scrap in the hands of the manufacturer and in the hands of the dealer was on account of various processes adopted by the in between persons. As they were paying the more value for the scrap with the less cenvat credit, they starte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Lakhs approximately. Even if the depreciation claimed is added back, the same would be to the extent of around 38.00 Lakhs. As such, keeping in view financial condition of the applicant, we direct the applicant to deposit an amount of Rs.25.00 Lakhs within a period of 8 weeks from today. Subject to said pre-deposit, balance amount shall stand waived and its recovery stayed during pendency of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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