2018 (11) TMI 218

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....ant Shri V. B. Jain, DR for the Respondent ORDER Per: Archana Wadhwa 1. After hearing both sides we find that the appellants are engaged in the manufacture of Stainless Steel Cold Rolled Patta/Pattii falling under Chapter 72 of the First Schedule to the Central Excise Tariff Act, 1985. Prior to 01/03/2014 the appellant was operating under the Cenvat scheme and after availing the credit....

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....icating authority confirming the demand along with confirmation of interest and imposition of penalty of identical amount. On appeal the said order was upheld by Commissioner (Appeals) but he reduced penalty to Rs. 5 Lakhs. Hence the present appeal. 3. The short question required to be decided is as to whether the appellant's final product manufactured prior to 01/03/2014 as lying in stock, whe....

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....any Ltd. V/s Collector of C. Ex [1989 (44) ELT 598(SC)] and also in the case of Collector of C. EX., Hyderabad V/s Vazir Sultan Tobacco Co. Ltd. [1996 (83) ELT 3 (SC)] wherein it was held that the rate of duty applicable to the excisable products would be the rate applicable on the date of clearance of the goods. The said decisions were cited before Commissioner (Appeals), who has distinguished th....