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2014 (12) TMI 737 - HC - Central ExciseWaiver of pre deposit - Valuation of goods - related party transaction - Department initiated proceedings stating that the price at which the related persons sold the goods at the open market should be the price that is to be taken for computation of duty liability - Whether there is a prima facie case for interference with the order of the Tribunal on merits and also a case for reduction of pre-deposit on the ground of financial hardship - Held that:- On perusal of the order of the Tribunal, this Court finds that both the grounds as pleaded by the appellant are totally lacking in the present appeal. On the first ground, this Court is of the opinion that the new plea taken before the Tribunal, as rightly held by the Tribunal, has to be tested, since the same was not before the assessing authority, viz., the Commissioner. In the above backdrop, reduction in pre-deposit, as sought for by the appellant, cannot be justified on prima facie case - order of the Tribunal clearly shows that there is a net profit of ₹ 2.75 Crores, outstanding of ₹ 2.9 Crores and receivables to the tune of ₹ 3.4 Crores and, therefore, there is no justification for the appellant to plead financial hardship. This Court is in full agreement with the view expressed by the Tribunal on the plea of financial hardship - no reason to interfere with the order passed by the Tribunal. This Court is of the considered view that no questions of law, much less substantial questions of law arise for consideration in this appeal. - Decided against assessee.
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