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2013 (12) TMI 233 - CESTAT CHENNAIWaiver of pre-deposit of duty - Import of injection moulding machines took place by misdeclaring the assessable value - No proper authorization for clearance of the goods - Held that:- There are decisions of this Tribunal holding that for non-obtaining proper authorization, penalty cannot be imposed under Section 112(a) of the Customs Act. For lending of IEC, there is no violation of the Customs Act and if at all any violation is found only Foreign Trade (Development and Regulation) Act will apply and under Customs Act no penalty can be imposed - applicant has agreed to make the pre-deposit of differential duty - Therefore applicant directed to make the pre-deposit of the agreed amount within four weeks and report compliance - The CHA and the IEC holder have made out the case of waiver of pre-deposit, therefore pre-deposit is waived and stayed recovery thereof during the pendency of the appeals - Partial stay granted.
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