2004 (11) TMI 415

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.... above. He has also demanded interest under clause (ii) of Customs Notification Nos. 30/97 & 31/97, dated 1-4-97 and the party was permitted to adjust an amount of Rs. 8,69,634/- already paid by them towards the interest payable by them. The Commissioner has also confiscated the inputs as detailed in the SCN of even no. dated 28-11-2002 under Section 111(o) of the Customs Act, 1962. However, as the goods were not available for confiscation, he ordered that the appellant-assessee shall pay an amount of Rs.1.00 lakh towards fine in lieu of confiscation. He also imposed penalty equivalent to the duty amount of Rs. 29,85,674/- and the interest payable thereon as worked out at the time of payment under Section 114A of Customs Act, 1962. He howev....

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....ined about 10 advance licences from DGFT and cleared the consignments availing benefit of Notification No. 30/97 and Notification No. 31/97 both dated 1-4-1997. It was also found that the importers were misusing the benefits of the Notification by declaring abnormally higher consumption coefficients for the raw material imported, but utilizing only the actual consumption required for the manufacture of the resultant product. During the course of investigation, it was also noticed that they have made local clearances of 48 Kgs Loratadine and some local intermediate clearances. It was in these circumstances that show cause notice was issued to the appellants on  28-11-2002 which culminated in the order of adjudication passed by the Commi....