2015 (10) TMI 1936

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....t. ORDER After hearing both the sides, I find that the appellants are engaged in the manufacture of various types of conductors, steel stranded wires, alloy wires, etc. Their factory was visited by the Central Excise officers on 2-1-2008, who conducted various checks and verifications. As a result, shortage in the raw-materials, i.e., steel wire rod and alloy wire rod was detected involving duty....

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....s was confirmed and equal amount of penalty was also imposed. In addition, the officers also confiscated the excess found raw-materials with an option to the appellants to redeem the same on payment of redemption fine of Rs. 1,70,000/- (Rupees one lakh seventy thousand only) and penalty of Rs. 6,75,518/- (Rupees six lakh seventy five thousand five hundred and eighteen only), equivalent to the valu....