TMI Blog2011 (4) TMI 1129X X X X Extracts X X X X X X X X Extracts X X X X ..... no supportive documentary evidence was filed along with the application, no legal infirmity in the order passed by the Tribunal, appeal fails and is dismissed - Central Excise Appeal No. 103 of 2011 - - - Dated:- 20-4-2011 - R.K. Agrawal, Bharti Sapru, JJ. A.P. Mathur for the Appellant S.P. Kesarwani, SC, for the Respondent JUDGEMENT The present appeal has been filed against the order dated 25.10.10/29.10.10 passed by the Customs and Service Tax Appellate Tribunal, Principal Bench, New Delhi, whereby the applications for grant of waiver for pre-deposit of Cenvat credit demand and penalty has been partly allowed and the Tribunal has directed the appellants to deposit a sum of Rs.12,00,00,000/- within a period of ei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... granted. The plea that the interest of the Revenue is amply safeguarded may be an additional factor to be considered while granting stay/waiver. The Tribunal has found that the raw-materials purchased by the appellant were not utilized in the manufacture of finished goods and the appellant had fraudulently adjusted the amount for paying Central Excise duty on the finished goods, which the appellant could not have done so. The Tribunal on the basis of material and evidence on record and on the basis of submissions made by the parties, have recorded categorical findings that the appellants have failed to make-out prima facie case in its favour for waiver of the amount of duty and penalty. The Tribunal while disposing of the applications h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e were not brought back to the factory premises of appellant No.1 but were sold out from the factory premises of the M/s. Jain Cutter (appellant No.4) and M/s. Saaras (Cutters)India P. Ltd. (appellant No.5). Shri Yashpal Sharma, Dy. GM of the appellant company in his statements dated 21/2/06, 27/2/06, 6/3/06 and 10/3/06 has admitted that during the period of dispute, there was no production of CR coils but still the production of CR strips and scrap but but the sale of CR coils/strips was being shown to various parties, some of which are M/s. Bharti Trading Company and M/s. Ashushi Steels. The statements of Shri Yashpal Sharma recorded under Section 14 of the Central Excise Act by a Gazetted Officer have not been retracted by him and resili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ous nature and amount to a massive fraud. In view of these circumstances, applying the principles laid down by Hon'ble Supreme Court and various High Courts as discussed in para 5 to 5.4 above, we are of the view that this is not a case for total waiver from the requirement of predeposit. We, therefore, direct the appellant No.1 to deposit an amount of Rs.12,00,00,000/- (Rupees Twelve Crores) within a period of eight weeks from the date of this order." Before us Sri A.P. Mathur did not establish that the findings recorded by the Tribunal is incorrect and are not based on any relevant material on record. He only emphasized that as the interest of Revenue is amply safeguarded, the Tribunal ought to have allowed full and complete stay/waiv ..... X X X X Extracts X X X X X X X X Extracts X X X X
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