2015 (11) TMI 1555

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....alling under chapter sub-heading No. 4802,4801 of the Central Excise Tariff Act, 1985. On physical verification of stock by the department, unaccounted stock of the impugned goods were found, which was not accounted in the RG1 Register. Apart from demand of duty along with interest, redemption fine and equal penalty were imposed and also imposed equal penalty on Shri M. Balasubramanian, Managing Direcoter of the appellant company, which was subsequently waived by the Commissioner (Appeals). Apart from this, three issues were upheld by the Commissioner (Appeals). Hence, the present appeal. 3. The Ld. Counsel Shri J. Shankararaman, Advocate, appearing on behalf of the appellant company submits that the goods which were found to have been una....

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...., the amount of duty payable and duty actually paid etc. Hence, failure to maintain RG1 register (daily stock account) is itself in contravention of Rule 10(1), apart from having excess physical stock over and above the RG1 register. He further submitted that in view of the above, it is evident that the appellant had deliberate intention to clear the unaccounted goods without payment of duty. He further submitted that penalty was rightly imposed under Rule 25 (1) (b) and redemption fine was also rightly imposed and pleaded to uphold the order of the Commissioner (Appeals). 5. After hearing both the sides and on perusal of the records and the documents filed by the Ld. Advocate, I find that the appellant assessee is regularly paying the exc....