2004 (7) TMI 511

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....for the Appellant. Shri L. Narasimha Murthy, SDR, for the Respondent. [Order per : S.L. Peeran, Member (J) (Oral)]. -  For the purpose of hearing the appeal, the appellants are required to pre-deposit duty amount of Rs. 25,90,263/- and penalty of Rs. 27,18,478/-, besides a personal penalty of Rs. 10,000/- each on the Managing Director and Plant Manager. The company and the parties ha....

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....nnot be relied for confirming the demands. He submits that there is no corroborative evidence with regard to procurement of raw materials and for sale of the final products. There are no admissions recorded from any persons for having received the goods. His further submission is that the company is presently closed and that there is no manufacture of any goods. There is no sales turnover. The BIF....

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....;On a careful consideration, we are not in a position to categorically say on the basis of the records presented now, that there was no clandestine removal in the matter. However, it is seen that the BIFR has directed for the winding up of the unit. The Balance Sheet produced also shows Nil sales and there is no production in the factory. In these circumstances, the appellants have shown the finan....