JUDGMENT
Gowri Shankar, Member (T)
1. Duty of Rs. 4,98,407/-, out of which it is stated Rs. 1,87,825/- has already been paid, penalty of Rs. 3,00,000/- and redemption fine of Rs. 3,00,000/- are required to be deposited.
2. The basis for the demand for duty is that the applicant did not pay duty on the drawings which it imported in pursuance of an agreement with its foreign collaborator to receive technical know-how from it. The representative of the applicant contends that it was not aware that such duty was payable. He says that, shortly after the imported took place when it was contacted by the officers of the Directorate of Revenue Intelligence, it offered to deposit duty and did in fact deposit Rs. 1.87 lakhs approximately. This, he says, shows the applicant’s bona fides . He however undertakes to deposit the remaining duty. He points out that goods had been cleared and the question of paying fine to redeem them would not arise at this stage.
3. Accepting this offer, on deposit of the duty within one month from the receipt of this order, we waive deposit of the penalty imposed on the applicant and the redemption fine and stay their recovery.
4. Compliance on 14th January, 2002.