2014 (2) TMI 502

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....n Sri R.R. Jha, Executive In-charge of TGS (Noticee No. 2) and Sri Gyan Ratna, Chief (Manufacturing ) (notice No. 3) and penalty of Rs.40,00,000/- each on Sri K.S. Narayan, Financial Controller of TGS (Noticee No.4) and Sri N.K. Singh, Head (Logistics) of TGS (notice No. 5), imposed under Rule 26 of Central Excise Rules, 2002. 2. Ld. Advocate Shri Ravi Raghavan at the outset, submitted that the issue revolves in a narrow compass. He submits that the applicant had manufactured goods valued at Rs.1,83,37,32,793/- during the period January to March, 2010, but due to cancellation of orders by the customers, could not clear the goods from the factory, even though around 559 excise invoices had been prepared showing payment of duty. The Ld. Ad....

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...., to clear the goods clandestinely. The Ld. Advocate submits that since the duty has been paid twice in respect of the same goods, first in February, 2010 and again in July, 2010, they have filed refund application before the appropriate forum which was rejected. Aggrieved by the said order, they filed Appeal before the Ld. Commissioner (Appeal), who, vide Order-in-Appeal No. 297/JSR/2012 Dated- 12/12/2012, allowed their appeal. 3. The Ld. Special Counsel Shri S.C. Jana for the Revenue, on the other hand, submits that the appellant had failed to maintain records in accordance with Rule 10 of the Central Excise Rules, 2002, in as much as, they have not followed the format required to maintain their Daily Stock Account (DSA) by mentioning ....