2001 (10) TMI 785

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....A) of CE Act, 1944. They have also been directed to pay interest @ 24% per annum on the amount of Rs. 6,27,449/- being the duty involved on the goods cleared during the period from 13-5-97 to 23-9-97 for the periods starting from the first day of the month succeeding the month in which the duty as aforesaid ought to have been paid till the date of payment of duty as provided in the Section 11AB of the CE Act, 1944. He has also imposed penalty of Rs. 6,27,449/- under Section 11AC of the CE Act and another penalty of Rs. 50,000/- under Rule 173Q(1)(a) of Central Excise Rules, 1944. 2. Ld. Counsel Shri A. Sarvesvara Rao has invited out attention to number of judgements which have been rendered by the Tribunal in the case of Premier Win....

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....ew Tariff. He also invited our attention to another judgement rendered in the case of Garson Metal Rolling Mills v. CCE, Chandigarh reported in [2000 (120) E.L.T. 376 (T)] in which it has been held that cold rolling and trimming undertaken by the assessee on duty paid hot rolled untrimmed sheets received by them from the job workers does not amount to manufacture. Ld. Counsel also relied on Tribunal's judgement rendered in the case of Vishvaman Industries v. CCE, Delhi -I reported in [2001 (127) E.L.T. 155 (T-Delhi)]. The judgement rendered by the Tribunal in the case of Vishvaman Industries v. CCE, Delhi - I has been confirmed by the Hon'ble Supreme Court by rejecting the appeal filed by the Revenue by their order dated 19-3-2001 reported ....

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....ducts reveals a marked deformation of the grains and grain orientation parallel to the direction of working. By contrast, products obtained by hot processes show almost regular grains owing to re-crystallization. *        Because of the strain or work hardening they have undergone, cold worked products are very hard and possess great tensile strength, though these properties may diminish appreciably with heat treatment. *        Elongation at fracture is very low in cold worked products; it is higher in products that have undergone suitable heat treatment. (page 981) (section XV, Chapter 72 of HSN explanatory notes) HOT WORKING COLD WORKING Purpose of hot w....

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....irement of wire rods can be met by the hot-rolling process, there are many requirements that demand greater accuracy, higher physical properties, better surface finish, thinner materials that can be produced by hot working methods. The demand is met by cold drawing the hot rolled wire rods as a finishing operation. Cold drawing results in the production of wire rods with smaller diameter, better surface finish, closer dimensional tolerances, increased mechanical properties such as tensile strength, uniform cross sectional diameter from end to end etc. When hot rolled wire rods are priced at around Rs. 13,000/- per MT, cold drawn wire rods are sold at around Rs. 15,000/- per MT, with a value addition of about 15%. In the steel market too, ho....