2015 (2) TMI 513

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....taken up together for disposal. 2. In the impugned orders, the learned Commissioner confirmed duty demand and imposed penalties as under: S.No. Appeal No. Duty (Rs.) Penalty (Rs.) 1 C/265/2004 11,55,443/- 11,55,000/- 2 C/266/2004 23,42,114/- 23,42,000/- 2.1. The facts of the case are that the appellant, M/s. Industrial Chemicals Manufacturing Co. Ltd., imported goods under value based advance licence obtained through transfer from original licence holder and claimed benefit of Notification No. 203/92-Cus dated 19/05/2002. A show cause notice dated 26/03/1999 was issued wherein it was alleged that the manufacturer-exporter who transferred the advance licences to the present appellant have taken the input stage MODVAT credit und....

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....g declaration in the show cause notice, no evidence was adduced by the Revenue to hold the declaration of the exporter as wrong. On this ground also, the allegation made in the show cause notice and confirmed by the learned adjudicating authority is without any basis and not sustainable. It is his submission that the appellant being a transferee of the licence, is not accountable for any violation of the conditions of the Notification, if any, committed by the transferor of the licence. 4. The learned Additional Commissioner (AR) appearing on behalf of the Revenue, reiterates the findings of the impugned orders. 5. We have carefully considered the submissions made by both the sides and perused the records. In the show cause notice, the al....