2008 (4) TMI 573

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....pre-deposit and stay of recovery) for want of quantification of duty or penalty in the impugned order. 2. The original authority had, in adjudication of a show-cause notice, confirmed a demand of duty of Rs. 26,849/- against the first appellant (assessee) and had imposed on them equal amount of penalty. It had also imposed equal amount of penalty on the second appellant (Managing Director of the assessee company). The above amount of duty was demanded on assessable value of Rs. 6,71,236/- which was determined to be the value of computer stationery found to have been cleared in excess of the limit (Rs. 10.00 lakhs) for the month of March 2002 prescribed in SSI Notification No. 8/2001-CE dated 1-3-2001 (as amended). In an appeal filed....

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....ority rejected the same on the ground that it was not supported by corroborative evidence. In this connection, learned counsel has referred to the Board's Circular No. 11/91-CX-4 dated 15-10-1991, wherein products which had a fiduciary value in excess of intrinsic value, such as cheques, forms, stock certificates, bills of lading, documents of title, rail tickets (whether for use on computers or others) were classified under Heading 49.01. On this basis, it is submitted that the share certificates issued by the assessee in March 2002 were falling under Chapter 49 and hence not to be included as part of computer stationery of Chapter 48. According to the appellants, if such documents were excluded, the correct value of clearances for the mon....