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2014 (2) TMI 1017 - CESTAT NEW DELHIWaiver of pre deposit - Rejection of value declared - Confiscation of goods - Re-determination of goods - Demand of differential duty - Held that:- while seeking waiver of pre-deposit and stay of all further proceedings for realization of the adjudicated liability; the petitioners have failed to disclose particulars of the transfer of 40,000 shares in favour of his son by Mr. Sangit Agrawal. This was crucial information which was bound to be disclosed. We prima facie consider the omission to state this crucial fact as amounting to suppression of material facts while seeking the discretionary relief of waiver of pre-deposit and stay - Taking the totality of the circumstances into account and duly considering the hardship of the petitioners and the interests of Revenue as well, we find no justification to modify the order dated 18.3.2013 directing remittance deposit of 25% of the adjudicated liability as pre-deposit. However, appellant may either deposit 25% of the duty liability assessed by the orders in original dated 26.3.2011 and 30.4.2012 bearing reference Nos.16/2011 and 11/2012 or may furnish bank guarantee for the amount representing 25% of the duty liability, within six weeks - Decided partly in favour of assessee.
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