2001 (10) TMI 422

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....s been imposed on each of the appellants : Appeal No. Period in dispute Duty Penalty E/185/01-A 1994-95 to 1997-98 2,27,141/- 2,00,000 (under Rule 173Q) **     6,99,270/- (under Sec. 11AC of CEA, 1944 E/221/01-A August, 1998 - 2,00,000 (under Rule 209A) E/222/01-A August, 1998 - 2,00,000 (under Rule 209A) E/223/01-A August, 1998 - 2,00,000 (under Rule 209A) **  Rs. 6,04,053/- imposed under Sec. 11A(2) pertaining to additional amount received on account of price escalation has already been deposited by the appellant - M/s. Mayur Industries Ltd.) Rs. 5,00,000/- penalty imposed under Rule 209A on Shri S.K. Gopalka, Ex. Director has already been de....

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....ured, with an intent to evade payment of duty and in this manner evaded Central Excise duty amounting to Rs. 27,46,383/- during the period from 9-11-95 to 27-8-98 and also not paid Central Excise duty amounting to Rs. 6,04,053/- on additional amount received subsequently on account of price escalation in respect of excisable goods manufactured and cleared during the period from 1994-95 to March 1998. 3. We have heard Shri Pankaj Mallick, learned CA on behalf of the appellants and Shri P.K. Jain, learned SDR on behalf of the respondent. We have also perused the records and the cases cited by the learned CA and the learned SDR. 4. Shri Pankaj Mallick has inter alia stated that the dispute presently confines to payments made ov....

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.... in the spare market was concerned, the values were depressed and duty evaded and amounts were also collected extra under separate documents. The charges are sought to be established on the basis of various statements recorded from the dealers and the copies of the price lists recovered from different premises during the search operations. 7. The under valuation has been admitted by the representatives of the appellants' company. The ground taken in defence is that the goods should be valued at the price at which they were sold in the majority of the cases. We consider that in a situation as in the present case, the correct assessable value has to be arrived at on the basis of the totality of facts and circumstances of the case. Adm....