2003 (6) TMI 356

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.... of the first appellant's product, namely flavoured ready syrup (FRS). The appellants (3) to (5) are officers of the first appellant company. 2. The dispute arising in these appeals relates to valuation of flavoured ready syrup (FRS) of Thumps Up and Coca Cola brands of aerated waters manufactured by the first appellant. Order impugned was passed pursuant to a show cause notice 26-3-98 invoking the extended period of limitation under proviso 11A(1). The period covered by the show cause notice is from 31-12-94 to March 1997. Under the impugned order the Commissioner confirmed duty demand of Rs. 30,49,200/-, imposed penalty of Rs. 10,28,469/- on the first appellant under Section 11AC and a further amount Rs. 1,50,000/- under Rule 173Q....

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.... that the first appellant suppressed the fact that the goods were sold to their holding company/related buyer namely, GAPL and did not intimate that fact to the department while filing price declarations/invoices. They have acted with the intention to suppress the fact to evade payment of excise duty. 5. It is contended by the first appellant before the Commissioner that the facts that GAPL, the bulk buyer was the holding company of CBL was routinely published in every year's balance sheet as a mandatory schedule and was within the knowledge of all concerned, including the department. Reliance was also placed on show cause notice dated 6-1-97 issued by the Commissioner of Central Excise, Meerut and also the order-in-original No. 34/....