2015 (12) TMI 1352

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....both the sides and on perusal of the records, we find that M/s Sarla Polyester Ltd and M/s Satidham Industries Ltd, both 100% EOU, were engaged in the manufacture of Polyester Texturised Yarn, classifiable under Chapter 54 of the Schedule to the Central Excise Tariff Act, 1985. The Adjudicating authority confirmed the demand of duty of Rs. 51,265.00 and Rs. 17,587.00 alongwith interest and penalties against M/s Sarla Polyester Ltd and Satidham Industries Ltd respectively. It has also imposed penalties on the other noticees. By the impugned order, the Commissioner (Appeals) upheld the Adjudication order, subject to the cum-duty benefit was extended to the Assessee. Both the Assessees and the other noticees filed appeals against the demand of....

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.... with the goods cleared clandestinely within the purview of Rule 26 of the Rules. 4 We find that both the Assessees are not contesting the demand of duty alongwith interest on merit, there is no need to go into the facts of the case. Hence, the demand of duty alongwith interest and penalties imposed under Section 11AC against both the Assessees are upheld. The Appellant is entitled for the option to pay penalty 25% of the duty as per the provisions of the Act. 5 The penalties imposed on other Appellants were as under:- a) Shri Krishnakumar Jhunjhunwala, Managing Director of M/s Sarla Polyester Ltd. Rs.15,000.00 b) Shri Krishnakumar Jhunjhunwala, Managing Director of M/s Satidham Industries Ltd. Rs.15,000.00 c) Shri Sanjay Karandikar,....