2017 (3) TMI 233

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.... dated 29/5/2007 by which the learned tribunal has partly allowed the said appeal preferred by the appellant herein - assessee and has reduced the redemption fine from Rs. 4,91,000/- to Rs. 1,00,00/- and also reduced the penalty from Rs. 10,000/- to Rs. 2000/- only, the assessee has preferred the present appeal. 2.00. On the basis of the search carried out at the premises of the appellant engaged in the manufacturing of recycling of different types of metals like Zinc, Copper, Brass, Aluminum,Lead, Cable, Rubbers etc., it was found that the entire quantity of finished goods found in the premises of the assessee - Plot No.14, GIDC, Phase 11, Dared, Jamnagar was in excess on computation of physical stock with the stock mentioned in the sta....

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...." 2.01. That thereafter the adjudicating authority has passed Order-in-Original after considering the reply to the show cause notice submitted by the appellant - assessee, confiscating all the seized goods total valued at Rs. 19,64,000/- under Rule 25 of the Central Excise Rules, 2002 read with section 112 of the Customs Act, 1962. The adjudicating authority gave an option to pay redemption fine of Rs. 4,91,000/-. The adjudicating authority also imposed penalty of Rs. 10,000/- upon the assessee - M/s. Mitex Impex under Rule 25 of the Rules read with section 112 of the Customs Act, 1962. 2.02. Feeling aggrieved and dissatisfied with the Orderin- Original, the assessee preferred appeal before the learned Commissioner (Appeals) and the l....

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....findings of facts recorded by all the authorities below with respect to confiscation of goods on the ground that the assessee did not maintain relevant books of accounts / registers. It is submitted that it was found that there was difference in the books of accounts and physical stock and therefore, confiscation is rightly held to be justified. It is submitted that despite the above, taking a lenient view, the learned tribunal has reduced redemption fine from Rs. 4,91,000/- to Rs. 1,00,00/- and reduced the penalty from Rs. 10,000/- to Rs. 2000/-. Making above submissions it is requested to dismiss the present appeal. 5.00. Heard the learned counsel appearing on behalf of the respective parties at length. 5.01. At the outset, it is re....