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TMI Blog2001 (9) TMI 552X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent. [Order per : V.K. Agrawal, Member (T)]. - This is an application, filed by M/s. Popular Iron & Steel Co. for waiver of pre-deposit of Central Excise duty amounting to Rs. 20,31,219.36 P and penalty of Rs. 20 lakhs. 2. Shri Rajesh Chhibber, learned Advocate, submitted that the Commissioner has confirmed the demand of duty and imposed penalty by denying them the benefit of Notif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e extended period would not be invokable because the Assessee was under a bona fide belief on the basis of Board's circular. 3. Opposing the prayer, Shri R.D. Negi, learned SDR, submitted that the Board's Circulars only mentioned that used and rejected railway material was to be treated as angles, shapes and sections and final product would be exempted from payment of duty in terms of Notifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evading payment of duty. The learned S.D.R. mentioned that inspite of various request made by the Range Superintendent, the Applicants did not supply the information regarding production, clearance, purchase of raw materials along with duty paying documents. In reply the learned Advocate submitted that if the duty is payable by them on their final products, they would be eligible to avail of deem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndia's Deemed Credit Order dated 1-3-1994 in the Pareek Ferro (P) Ltd. whereas the demand is confirmed in the present matter up to February, 1994 that is before the issue of said Order. We, therefore, direct the Applicants to deposit an amount of Rs. 7 lakhs towards duty within 8 weeks from today and on complying with this direction, there will be waiver of pre-deposit of remaining amount of duty ..... X X X X Extracts X X X X X X X X Extracts X X X X
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