2007 (2) TMI 46

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....r of Commissioner Central Excise & Customs, Daman No.10/Demand/DAMAN/2004, dt.23-8-2004, by which he has confirmed a duty demand of Rs. 50,62,729/- and imposed equal penalty u / s 11AC in addition to demand of interest. 2. Heard Learned SDR for the Department who reiterated the finding of the Commissioner and perused the records.  3. The relevant facts, in brief, are as follows: (a) ....

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....y confirmed the demand of differential duty of Rs. 50,62,729/- along with interest besides imposition of penalty as mentioned earlier. 4. We have carefully considered the submissions. If the inputs were cleared by the appellant company to a 3rd party, as per rule in force, they would have merely reversed the credit they already availed. They have not manufactured this input hence it is not a ca....