2018 (6) TMI 7

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....ate for the appellant Sh. H. C. Saini, AR for the respondent ORDER Per : Archana Wadhwa Both the appeals are taken up for hearing and are being disposed of by a common order as they arise out of the same impugned order passed by the authorities below. 2. As per facts on record, the appellant are engaged in the manufacture of S.S. Billets and S.S. Flats and steel castings etc. fallin....

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....discrepancy in the stock of raw material was detected. 3. Based upon the above facts, proceedings were initiated resulting in confiscation of the said seized goods with an option to the appellant to redeem the same on payment of redemption fine of Rs. 25 lakhs. In addition, penalty of Rs. 14,54,224/- was imposed upon the appellant under Rule 25 of the Central Excise Rules alongwith imposition o....

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....orised Signatory having explained the reasons for non entry of some of the goods, being hollow billets reflects upon the appellant's bonafide. Further, there is no evidence with the Revenue to show that the said goods were not entered in the statutory record with intention to remove the same clandestinely. In such a scenario, there is no justification for confiscation of the goods and imposition o....

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....s, cannot be held to be reflecting the correct stock position. Reference can be made to the Tribunal decision in the case of Raman Ispat (P) Ltd. vs. CCE&ST, Meerut- 2016 (336) ELT 688 (Tri. All.), Shree Ganesh Alloys vs. CCE, Chandigarh - 2016 (337) ELT 595 (Tri. Chan.) as also in A. Kumar Industries vs. CCE&C, Daman, Vapi -2010 (261) ELT 486 (Tri. Ahmd.). Further, it is seen that the decision....