TaxTMI 
TaxTMI 
2006 (12) TMI 369
X X X X Extracts X X X X
X X X X Extracts X X X X
....ayanan, Advocate, for the Appellant. Shri S. Kumar, DR, for the Respondent. [Order per : C.N.B. Nair, Member (T)]. - Heard both sides and perused record. 2. The stay applications are in relation to penalties imposed on the appellants. 3. The facts leading to the imposition of penalties are that Customs Duty free imports of raw materials were made for export production, in ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tes, showing the goods as received in statutory books of accounts and in issuing cheques in the guise of payments for the fabrics received, while as a matter of fact, the money was received from the sale of the imported materials themselves. 4. The impugned order details the role played by M/s. G.N. Rubber Tech Pvt. Ltd. as well as the other appellants. Present appellants had also admitted....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e may read Rule 26 : "Penalty for certain offences - Any person who acquires possession of, or is in any way concerned in transporting, removing, depositing, keeping, concealing, selling or purchasing, or in any other manner deals with, any excisable goods which he knows or has reason to believe are liable to confiscation under the Act or these Rules, shall be liable to a penalty not exceeding ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e many players in the fraud from the scope of the Rule, even as the Rule is comprehensive in its coverage. 9. In the above view of the evidence and the legal position, we are not able to find any justification for the waiver of the pre-deposits. However, taking into account all the aspects of the case, we direct appellant M/s. G.N. Rubber Tech Pvt. Ltd. to make a pre-deposit of Rs. 20 lakh....