9911796707
TMI Blog2011 (11) TMI 140X X X X Extracts X X X X X X X X Extracts X X X X ..... isposed of at this stage. Accordingly, after dispensing with pre-deposit, we take up the appeals for final disposal. 2. The main appellant (assessee) was working as Export Oriented Unit (E.O.U.) under STPI scheme during the material period. They had obtained a Customs Private Bonded Warehouse Licence on 22.1.1999 which expired on 21.1.2004. The one part of the impugned demand is demand of Customs duty of Rs. 8,17,880/- on capital goods imported by the assessee in 1999 by claiming the exemption under Notification No. 140/91-Cus dated 22.10.1991. The remaining demand is on goods procured indigenously without payment of duty in terms of Notification No. 1/95-C.E. dated 4.1.1995 as amended and same amounting to Rs. 17,693/-. When office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Managing Director of the assessee company. 3. Aggrieved, the appellants preferred appeals to the Commissioner (Appeals) and the latter sustained the order-in-original with the reduction of penalty imposed on the assessee to Rs. 1,00,000/-. Hence the present appeals filed by the assessee company and its Managing Director. 4. The learned Counsel for the appellants submits that they had shifted their unit to another premises of theirs but could not intimate this fact on account of the illness of the Managing Director who was suffering from cancer during the material period. She further submits that they had stopped the production in 2001 due to financial crisis. The export obligation was fulfilled. In this connection, the learned Couns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... effect from that date particularly, as there was no objection from the STPI authorities. In the circumstances, the demands of Customs and Excise duties raised on the assessee have to be upheld. Therefore, the assessee is liable to pay dues of Customs and Central Excise on the imported and indigenous capital goods respectively. However, the quanta of these dues required to be re-worked out by the original authority after granting depreciation of value in accordance with law. It goes without saying that interest on Customs duty under Section 28 AB of the Customs Act and on Excise duty under Section 11AB of the Central Excise Act has to be paid by the assessee at the applicable rates on the correct amounts of duty. 7. Insofar as confi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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