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2014 (3) TMI 86 - AT - Central ExciseWaiver of pre-deposit - cenvat / modvat credit - allegation of clearing S.S.Billets by mis-declaring the same as OAS billets with intent to evade the payment of duty - allegation of under valuation in respect of S.S. Billets - allegation of taking Modvat Credit without actual receipt of input - Held that:- from a number of test reports of the CRCL in respect of the samples drawn during the period of dispute from the goods declared as OAS Billets it is seen that the Chromium content of the steel was more than 10.5%, while in terms of Chapter Note 1(f) to Chapter 72 the Chromium content of Other Alloy Steel is required to be 0.3% or more but less than 10.5%. Therefore it cannot be said at this prima facie stage that the decision of the case is likely to result in exoneration of the Appellant on this court. Regarding undervaluation - as prima facie for March’94 to Nov.’95 period, there is no justification for drastic reduction in the price of SS Billets when the price of down street production S.S Flats and SS Pattas/Pattis had not decreased and there was no reduction in the price of SS Billets manufactured by other manufacturers. It cannot be said that the appellant have been such a strong prima facie case in their favour which is likely to result in their full exoneration. - appellant directed to pay an amount of ₹ 3 Crore within a period of eight weeks. - stay granted partly.
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