2016 (2) TMI 328

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.... Per Ashok Jindal The appellant is in appeal against the impugned order demanding duty along with interest and imposing penalty on him on account of shortages found during the course of physical verification. 2. The facts of the case are that appellant is manufacturer of MS/SS ingots and Flats. On 04.03.2008, a search was conducted in his factory and it was found that as per statutory record....

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....s that the appellant is not contesting duty liability but contesting the imposition of interest and penalty imposed on them. He submits that on oral statement of authorized signatory on shortages found during the course of investigation, penalty cannot be imposed as held by this Tribunal in the case of [Sri Jaibalaji Ispat Pvt Ltd. 2014 (310) ELT 556 (Tri-Delhi) and Ambica Polytubes [2013 (290) EL....

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....e duty within a month of investigation, no interest is payable by the appellant. 7. Now I come to the imposition of penalty on the appellant. I have gone through the panchnama and submissions recorded by the authorities below at the time of investigation by authorized signatories who admitted that they have cleared the short found goods without payment of duty clandestinely. In these circumstan....

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.... 11 AC of the Act is imposable on the appellant. Further I find that as per the proviso to section 11 AC of the Act, penalty is to be paid 25% if the assessee pays the duty along with interest within 30 days of the adjudication. Admittedly, in this case, the appellant has paid the duty before adjudication and moreover within the same month of investigation and no interest was payable by the appell....