2005 (2) TMI 627

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....llant. Shri J.R. Madhiam, JDR, for the Respondent. [Order per : V.K. Jain, Member (T)]. -  Heard Shri B.N. Chattopadhyay, Consultant on the Stay Application filed by the appellant. The Consultant submits that duty involved in this appeal is Rs. 8.97 lakhs and the penalty imposed is Rs. 25,000.00. The issue involved is whether conversion of the sheets by cutting/slitting of HR/CR coil....

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....retation then Supreme Court - Regardless of the interpretation that the Court have placed on the phrase "on which the appropriate amount of duty has already been paid", if there are circulars which have been issued by the Central Board of Excise and Customs which place a different interpretation upon the said phrase, that interpretation will be binding upon the Revenue - Section 37B of Central Exc....