2000 (4) TMI 81

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..... y, Member (J) [Order per : Gowri Shankar, Member (T)]. - The applications are for waiver of deposit of duty of Rs. 27.17 lacs approx, and penalty of Rs. 2.00 lacs on the assessee and Rs. 1.00 lac on D.R. Patel, its director. 2. We have heard both sides. 3. Duty has been demanded, and penalties imposed on the finding of the Commissioner that the cost of manufacturing out of low density polyethel .....

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..... aw that specific reasons must be given by the assessee for reducing the price. The assessee had furnished the price in reply to the department in its price list. The department would have seen it straightaway that these values were lower than earlier declared. It was entirely open to the department to examine the reason for such a fall before approving the classification list finally. Accordingly, .....

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