2014 (2) TMI 443

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....h Central Excise department. During the course of investigation against one M/s. Jay Aay Alloys Pvt. Ltd., an induction furnace located in Himachal Pradesh, it was found that they were clearing steel ingots allegedly manufactured by them through their Mandi Gobindgarh based consignment agent namely M/s. Ved Trading Company. M/s. Ved Trading Company were further selling the goods to various dealers. One such dealer was M/s, Sidh Balak Enterprises located in Mandi Gobindgarh. The proprietor of the said M/s. Sidh Balak Enterprises, Shri Sachin Aggarvanshi, in his statement recorded on 5.4.2007, admitted that though in his records, he has shown the receipt of ingots from M/s. Ved Trading Company and has further issued bills for sale of such ing....

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.... 6. After hearing both sides duly represented by Shri Naveen Bindal learned Advocate appearing for the appellant and Shri Sanjay Jain, learned SDR for the department, and on going through the impugned order passed by Commissioner (Appeals), I find that the entire case of the Revenue is based upon statement of Shri Sachin Aggarvanshi, proprietor of M/s. Sidh Balak Enterprises. As per the said statement of Shri Sachin Aggarvanshi, the transaction entered by M/s. Sidh Balak Enterprises with M/s. Ved Trading Company were bogus. The appellants have taken a strong objection to such reliance on the statement of Shri Sachin Aggarvanshi by submitting that the goods purchased by the appellant from M/s. Sidh Balak Enterprises were received by him fro....