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2013 (11) TMI 439
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....HWA; After hearing both the sides, we find that duty of around Rs.5.53 Crores stands confirmed against applicant alongwith imposition of penalty of identical amount. As per records the applicant is engaged in the manufacture of C.I. Ingots Moulds, Centre Column, Slag-pot, Bottom Plate. For the said purpose they use pig iron as also scrap, received from the dealers /manufacturers. During the yea....
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.... value and consequently less payment of duty, to the dealers who were further clearing the same to the appellant at the higher value but the credit passed on was on the lower side. The said value difference in the scrap in the hands of the manufacturer and in the hands of the dealer was on account of various processes adopted by the in between persons. As they were paying the more value for the sc....