1998 (8) TMI 271 - AT - Central Excise

Summary

The case involves an application for waiver of duty and penalty totaling Rs. 66.87 lakhs and Rs. 30 lakhs, respectively, on the assessee and its director. The Tribunal finds it difficult to accept the explanations provided by the applicant and orders the appellant to deposit Rs. 25 lakhs within two months, waiving the remaining duty and penalty.