Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2014 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (10) TMI 884 - AT - Central ExciseOrder of pre deposit - Demand of Central Excise Duty - clandestine removal - Held that:- The material fact manifesting evasion of ₹ 9,39,10,915/- as outcome of investigations, gravity of allegations and strength of evidences on record prima facie show that interest of revenue has been prejudiced by the appellant causing loss to it. This calls for pre-deposit to work out an interim modality since balance of convenience tilts in favour of Revenue and without pre-deposit order, irreparable injury may be sustained by Revenue. We are of the opinion that order of pre-deposit shall not cause under hardship to the appellants in view of the ratio laid down by Supreme Court in the case of Benara Valves Ltd. v. CCE reporting (2006 (11) TMI 6 - SUPREME COURT OF INDIA ). Therefore keeping in view above findings and prejudice caused to Revenue, Appellant (M/s. KPPPL) are directed to deposit an amount of ₹ 5,00,00,000/- (Rupees five crores only) within eight weeks of receipt of this order and submit compliance on 30-12-2014. Subject to compliance to this direction, realisation of the balance of amount of duty of ₹ 4,39,10,915/- followed by interest on the duty as well as penalty shall remained stayed during the pendency of the appeal.
|