TaxTMI 
TaxTMI 
2012 (8) TMI 4
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....ue filed this appeal against the order-in-appeal passed by the Commissioner (Appeals) whereby a demand of Rs.4,38,209/- is confirmed and the Commissioner (Appeals) reduced the penalty imposed under Section 11AC of the Act. The Revenue filed the appeal challenging the order whereby the penalty under Section 11AC of the Act is reduced. 2. The present respondent also filed cross objections challengi....
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....payment of duty by the assessee. 5. In the cross objections the contention of the assessee is that the demand is time barred as the assessee was filing price declarations after taking into consideration the price of the fabric as declared by the merchant manufacturers in the challans under which the fabric is received and there is no evidence on record to show that the assessee has connived with ....
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....od is sustainable and the assessee is liable for penalty under Section 11AC and the authorities under the Act have no power to reduce the penalty as per the decision of the Hon ble Supreme Court in UOI vs. Dharmendra Textile Processors 2008 (231) ELT 3 (SC). 8. We find that the allegation against the assessee is that the cost of grey fabric is misdeclared, therefore the assessee who is a processo....