2016 (7) TMI 293

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....ed in the manufacture of decorative veneers, commercial ply wood, decorated plywood etc. falling under Chapter Heading 44.04 and 44.08 of the 1st Schedule to the CETA 1985 and the second and third applicants are respectively Managing Director and Executive Director of the applicant company.  The appellant company  was registered under the Companies Act  and was earlier owned by K.S. Simon  and other Directors of the Company who transferred their shares to the present Directors in May 2003.  The  respondent has alleged evasion of excise duty by the appellant by under valuation of the decorative plywood and veneers manufactured and sold through direct billing and also by clandestine clearance.  The Revenue I....

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....he company and from any other source could not comply with the directions of the Tribunal  to deposit Rs. 30,00,000/- and consequently their appeals  were dismissed vide Final Order No 200-204/2007 dated 7.2.2007 under Section 35 F of the Central Excise Act.  In the meantime, the respondent also  started recovery proceedings against the appellant which has become defunct ever since it was taken over by the present directors and the appellant could not even pay the salaries to its staff.  There is absolutely no income from the factory for more than a decade. The appellant secured loan from the Indian Overseas Bank, Chennai for an amount of Rs. 2 crores against hypothecation of appellant's  property by way of sec....

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....000/- to the  respondent. 3.  On the other hand the learned A.R. strongly  opposed the application for restoration of appeal and submitted that the same cannot be restored even after making the deposit  and the only remedy available to the appellant is to file an appeal before a Higher Forum.  He also submitted that if the appeal is restored it would tantamount to review of the order of the Tribunal which is not permitted under law.  In support of his submission he relied upon the  following authorities: 1) Parwati Automotives Pvt Ltd Vs CCE Kanpur [2011(264)ELT 522(Tri-Del)] 2) Singla Steels Pvt Ltd Vs CCE Chandigarh [2010(256)ELT 110 (Tri-Del)] 3)Shree Sanand Textile Industr....