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TMI Blog2015 (7) TMI 971X X X X Extracts X X X X X X X X Extracts X X X X ..... stay and waiver of pre-deposit of the amount under section 35-F of the Act, has directed the appellant to deposit an amount of Rs. 3 crores within a period of eight weeks. The following substantial questions of law have been framed:- "(i) Whether the appellant can be directed to pay Rs. 3 crores in compliance of Section 35F of the Central Excise Act 1944 during the pendency of the appeal when the entire case has been made out on the basis of surmises and presumptions without any concrete evidence on record and the impugned order before the Tribunal has been passed without following the directions of the Tribunal while remanding the case for fresh adjudication and sacrificing all principles of natural justice. (ii) Whether the Tribunal c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m March 1994 to 10 November 1995 by wrong declaration of the value of SS billets and that it wrongly availed the Modvat Credit facility of Rs. 1,16,21,252/- during the period from April 1993 to 17 May 1995. The matter was adjudicated by the Commissioner and an order was passed on 25 November 1997 by which the Commissioner:- (a) confirmed the duty demand of Rs. 6,97,62,102/- against the Appellant on account of under valuation and clearance of "S.S.Billets" in the guise of "OAS Billets"; (b) confirmed the demand of Modvat Credit of Rs. 1,00,40,124/-; (c) imposed penalty of Rs. 7,98,03,000/- on the Appellant under Rule 173Q(1) of the Central Excise Rules, 1944; (d) Confiscated land, building, plant & machinery of the Appellant under Rule 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rection of the High Court that the Tribunal has now decided the stay and waiver application afresh by an order dated 20 December 2013 which has been impugned in this Appeal. The Tribunal has while disposing of the application directed the appellant to pay an amount of Rs. 3 crores within eight weeks and on deposit of this amount within this stipulated period, the requirement of pre-deposit of the remaining amount has been directed to remain stayed. The Tribunal has also directed that compliance report should be submitted before it by 26 March 2014. Learned counsel for the appellant has submitted that the Tribunal failed to correctly appreciate the prima facie case of the appellant and there was no justification for directing the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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