TMI Blog2003 (6) TMI 414X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner, for the Department. [Order]. M/s. Lily Chemicals Ltd. (hereinforth referred to as applicant) has filed the Settlement Application No. 371/2002, dated 10-9-2002. The brief facts of the case are as follows: - The applicant is a manufacturer of cotton coated fabrics falling under Chapter 59 of the Central Excise Tariff Act, 1985. The Central Excise Officers, during their visit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it is prayed that the admitted duty liability of Rs. 3,65,906/- may be allowed to be paid in instalments spread over 6 months. The applicant has requested for waiver of interest and penalty. 4. The Superintendent in his report dated 23-10-2002, submitted to the Commission under Section 32F of the Central Excise Act, 1944 has opposed the party s contention that the value mentioned in the show ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore 15-5-2003 along with interest @ 18%. The applicant has not complied with the said order of the Settlement Commission. 9. The case was fixed for hearing on 16-6-2003. 10. The applicant has submitted that due to some unavoidable financial hardships and the prolonged illness of its Managing Director, the balance admitted duty liability has not been paid. It was requested to allow two to thr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to make the deposit of the admitted duty liability. On this juncture, the correctness or otherwise and other submissions as per law is not considered by the Settlement Commission. 12. The Settlement Commission has been formed for expeditious disposal of the cases in shortest possible time frame. The intention for establishment of the Commission is to expedite and settle the cases and not to p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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