2014 (10) TMI 56

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....was Rs. 45,81,260/- and as such, they had not crossed the limit of Rs. 90 lakhs at which stage, they are required to file a declaration to the jurisdictional Central Excise officer and as such, at that time, they were not required to obtain Central Excise registration which is required on the value of clearance in the financial year crossing the limit of Rs. 1.3 crores. At the time of visit of officers to the factory, they found stock of finished goods of MRP of Rs. 9,05,590/-. The goods were seized on reasonable belief that same being unaccounted, are liable for confiscation under the provisions of Rule 25(1) of Central Excise Rules. Subsequently, the Assistant Commissioner vide order in original dated 9.7.12 ordered confiscation of the se....

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....had not crossed threshold limit of Rs. 90 lakh for filing declaration and threshold limit of Rs. 1.3 crores for Central Excise Registration, they were neither required to file any declaration nor were required to obtain Central Excise registration; that in view of this, they were not even required to maintain any statutory records and follow the Central Excise formalities in terms of provisions of Central Excise Act, 1944 and Rules made thereunder that the Appellant were only required to maintain some private records of production and sale and that in view of these circumstances, the imposition of Redemption fine of Rs. 2 lakhs which is about 1/3rd of the value of the goods and penalty equal to the duty involved on the seized goods is too h....