2012 (11) TMI 826

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...., who conducted various checks and verifications. As a result PVC resins was found short to the extent of 52,000 Kgs., involving Cenvat credit of duty of Rs.2,50,900/-. Shri M.K. Jain, authorised signatory of the appellants in his on the spot statement admitted the said shortages but could not given any reasons for the same.   3. On the above basis, proceedings were initiated against the appellant by way of issuance of show cause notice dated 29.9.08 proposing confirmation of demand along with interest and imposition of penalty. The same culminated into an order passed by original adjudicating authority confirming demand of duty of Rs.2,50,900/- along with penalty of identical amount in terms of Section 11 AC of the Central Excise A....

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....Shri M K Jain, was retracted and an offer was made to the department to visit their factory again for verification of the raw material lying outside store room is clearly an after thought. He draws my attention to the Tribunal decision in the case of Zaki Ishrati vs. CCE Kanpur reported as [2010 (255) ELT 545 (Tri-Del)] wherein it is laid down that retraction of statement admitting the smuggled nature of the goods in a letter addressed to the Commissioner cannot be held to be a valid retraction inasmuch as the said retraction has to be addressed to the officers to whom the statement has been given. As such, he submits that the said retraction should not be taken into consideration.   6. After carefully considering the submissions ma....