2012 (9) TMI 863

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....vocate, for the Respondent. ORDER All the three appeals stands filed by the Revenue against the impugned order of Commissioner (Appeals) vide which he has set aside confirmation of demand against M/s. Ashok & Co. Pan Bahar Ltd. along with setting aside of penalty on its Director and on Grand Panyan Traders. 2. After hearing both the sides, I find that officers visited and raided one godow....

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....wnership of the said goods and also submitted the copy of the ledger of sales/purchase for the relevant period. The goods were released to M/s. Grand Panyan on provisional basis. 4. Subsequent statement of Shri Akhil Jain, Director was recorded on 6-8-2008 wherein he deposed that M/s. Grand Panyan were their buyers till last three months and they have only sold the goods to them under the cover....

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....ce the present appeal. 7. The appellate authority has referred to the fact that the statement of Shri Akhil Jain are exculpatory statement and the statement of Shri Jai Gopal cannot be held to be inculpatory. In the absence of any evidence indicating clearance of the goods without payment of duty, confirmation of demand cannot be upheld and penalties cannot be imposed. 8. I find that the ent....