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2013 (8) TMI 389 - AT - Central ExciseWaiver of pre-deposit – Stay application - Issue involved is availability of Cenvat credit in respect of various iron and steel items used as supporting structures in the appellants' factor. The issue finally stand decided against the appellant by the Larger Bench of Tribunal in the case of Vandana Global Ltd. vs. CCE [2010 (4) TMI 133 - CESTAT, NEW DELHI (LB)] – Further, the appellants advocate agreed that the issue stand decided against them - Only contention raised that there was no malafide or mis-statement or suppression with intent to evade payment of duty on the part of the applicant and as such, the benefit of limitation should be extended to them – Held that:- The demand of around Rs.One crore fall within the normal period of limitation, they were directed to deposit the said amount within the period of 10 weeks (period suggested by learned Advocate). As regards, the financial condition, appellants have not placed any document/evidence on record reflecting upon their poor financial condition - Two letters addressed to the Bank exchequer, throws no light on their actual financial condition - On the other hand, the report of jurisdictional Additional Commissioner (Rev) is very clear indicating progress in business of the appellant inasmuch as the production is admittedly higher than the previous corresponding period and payment of duty is also on the higher side.
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