- (1.) Present appeal under Section 35-G of the Central Excise Act, 1944 (for short the 'Act') arises out of an order dated 7.11.2012 (Annexure A-1) passed by the Customs, Excise & Service Tax, Appellate Tribunal (for Short "the Tribunal"), whereby an application of the appellants for waiver of the pre deposit was partly allowed.
(2.) On 3.4.2012, learned Commissioner, Central Excise Commissioner, Ludhiana passed an order-in-original holding that the transactions of M/s Windsor Exports Limited regarding the sales of synthetic rubber compound are bogus transfers leading to duty evasion amounting to Rs. 59,72,519/-. The Appellant was directed pay the said duty amount along with interest and imposed penalty of the equal amount. The penalty of the varying amount was imposed on other two firms who transacted with M/s Windsor Exports Limited. In appeal against the said order, learned Tribunal waived the duty demand of Rs. 59,72,519/-; directed the appellants i.e. M/s Kohinoor Rubber Mills and M/s Asian Tyre Factory to deposit 50% of the Cenvat Credit demand raised against them; to deposit 10% of the penalty amount on each of the firm i.e. M/s Windsor Exports, M/s Kohinoor India Pvt. Ltd and M/s Aman Singhal, Rakesh Gupta, S.P.Jain and Nipun Jain. While passing the said order, payment of the penalty by Kimti Lal and that of Mr. S.P.Jain, proprietor of M/s Oswal Enterprises was waived.
(3.) Learned counsel for the appellant has argued that the entry of Cenvat Credit of Rs. 59,72,519/- availed by M/s Windsor Export was reversed when the duty of about Rs. 60,15,875/- was paid on the synthetic rubber compound. Therefore, it is case of complete waiver of duty and penalties.;