Per Shri V.P. Gulati : By this application, the applicants have pleaded for dispensation of pre-deposit of duty of Rs. 4,03,603.42 demanded and a penalty of Rs. 50,000/- levied on the applicants in terms of the impugned order of the Collector of Central Excise, Bangalore.

2. Shri G. Chander Kumar, the learned Counsel for the applicants pleaded that duty has been demanded from the applicants for the reasons that the applicants had included the amount received by them towards tooling and development of the product which was ordered for by their buyers. He pleaded that initially a duty of Rs. 25,31,045 had been demanded from the applicants for the reasons that the applicants/appellants had received an amount of Rs. 18,55,000/- and Rs. 63,34,561 in the form of tool and die development charges during the year 1990-91 and 199192 respectively from the customers M/s Ashok Leyland Ltd, Madras and also interest accrued there from was not reckoned towards the assessable value. He pleaded that after the applicants had shown to the learned lower authority that this amount earlier received had been amortized by adding the portion of these charges on each pieces supplied by them after develop