TaxTMI 
TaxTMI 
2008 (5) TMI 526
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....l and alloy steel ingots. The case of the Revenue is that during the audit, it was found that appellant has shown in the balance sheet for the year 2001-2002 and 2002-2003 income under the head 'other receipts' regarding which appellant failed to produce any evidence. The Revenue raised demand in respect of the income which is shown under the head 'other receipts' in the balance sheet on the ground that these amounts are attributable to the sale of SS ingots and alloy steel ingots manufactured and cleared without payment of duty by the appellant. 3. The contention of the appellant is that apart from manufacturing activity they are also engaged in the trading of goods and are registered with the Revenue authorities regarding their trad....
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....ome from Dharam Kanta was also produced before the adjudicating authority. The contention is also that no investigation was conducted from the workers of appellant regarding excess production or regarding receipt of raw material. The contention is that as the evidence shown that the appellants are having income from other activities and regarding which the evidence was produced by way of producing invoices, assessment order etc., therefore, the demand on the ground that the income from 'other receipts' shown in the balance sheet is in respect of the manufacturing activity is not sustainable. 4. The contention of the Revenue is that the adjudicating authority held that the ledger accounts for the relevant period produced by the appella....