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2011 (12) TMI 434 - AT - Central ExciseWaiver of pre-deposit of duty - Show Cause Notice was issued to the applicant treating the amount of Rs. 5.5 crores as profit earned from sale of excisable goods which were cleared without payment of duty - Amount surrendered to ITA - Held that:- in the balance sheet nowhere applicant disclosed that the amount in question was surrendered to the Income Tax authorities is in respect of sale of excisable goods - in absence of any evidence that the amount surrendered to the Income Tax department is in respect of the goods cleared without payment of duty or in respect of under valuation of goods, prima facie, the applicant has a strong case for waiver of pre-deposit of duty, interest and penalty - Stay granted.
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