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2014 (1) TMI 1332 - HC - Central ExciseWaiver of pre deposit - Duty demand - Imposition of equivalent penalty and interest - Whether in the facts and circumstances of the case, the Appellate Tribunal was justified in directing the Appellant to pre-deposit ₹ 1,00,00,000/- under section 35F of the Act - Held that:- during the hearing before the Tribunal, the appellant have stated that 90% of its turnover is in respect of traded goods whereas 10% of its total turnover is in respect of manufactured goods. Keeping that in view, the pre-deposit of the confirmed demand of ₹ 1.27 Crores was reduced to ₹ 1 Crore. Thus, for all the above reasons, we find no reason to interfere with the order of the Tribunal in the facts of the present case at this stage. The submissions made on behalf of the appellant would require consideration in depth and the same could appropriately only be done at the time of final hearing of its appeal before the Tribunal - However, the time to make the pre-deposit stands extended from 30 November 2013 to 31 January 2014 and on producing evidence of the same before the Tribunal - Following decision of Furniture Products Ltd. v. CCE [2009 (12) TMI 606 - CESTAT, CHENNAI] - Decided partly in favour of assessee.
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