2016 (7) TMI 1320

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....ok Jindal (Judicial Member) The appellants are in appeal against the impugned order demanding duty alongwith interest and imposing penalty on both the appellants. 2. The facts of the case are that the appellants surrendered a sum of Rs. 5.5 Cr before the income tax authorities, during the course of survey conduct in their business premises. The Revenue considered the income surrendered of Rs. 5.....

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....purchase to raw material manufacture of finished goods and clearance, therefore, the duty cannot be demanded. It is further submitted that the appellants are engaged in manufacturer of bulk drugs which is raw material to pharmaceutical units. There is no evidence of movement of goods and the statement of buyers to indicate that goods have actually moved to the buyers. Merely, on the basis of surre....

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....e with regard to purchase of raw material, manufacture of finished goods and sale thereof or not? 8. The said issue came up before this Tribunal in the case of M/s Arisudana Industries Ltd. (Supra) wherein this tribunal has observed as under:- 8. As duty is payable on manufacture of the goods. Revenue have not come up with any positive evidence to shows that the appellant has manufactured excis....