2008 (1) TMI 733

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.... Shri B.L. Meena, SDR, for the Respondent. [Order per : P.G. Chacko, Member (J)]. - Learned Commissioner has demanded duty of over Rs. 75.00 lakhs from the appellants and has appropriated towards the same a payment of Rs. 5,22,554/-. He has also imposed equal amount of penalty on them under Section 11AC of the Central Excise Act. 2. After examining the records and hearing both sides....

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....evelopment Commissioner and the department. These documents indicate that an amount of duty of Rs. 9.65 lakhs was paid by the assessee on the depreciated value of capital goods in October, 2001, but the capital goods were not allowed to be removed from the EOU on account of non-payment of duty on raw materials. It is also noted that the validity of LOP had expired on 25-2-2000 and therefore the un....

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....not reviewed. Apparently, the capital goods component of the duty demand is amenable to challenge. As regards the demand on raw materials, we note that, if duty is demanded on raw material, the same could be available as CENVAT credit for payment of duty on finished products cleared to DTA. But the fact remains that, for the period up to March, 2002, the dispute on final product was settled as per....