2019 (9) TMI 68

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ling under Chapter Heading Nos. 44.04 and 44.08 of the First Schedule to the Central Excise Tariff Act, 1985 (for short "the Act"). In response to the information received by the Directorate General of Central Excise Intelligence, regarding the evasion of Central Excise duty, by resorting to gross undervaluation of products manufactured and sold, and clandestine clearance by the M/s. UTVPL, a search of the premises and the residences of the Managing Director and other officers of the company was conducted on 8th July, 2003, resulting in seizure of various incriminating documents and computer CPUs containing vital data supporting the information. 6185 sheets of decorative plywood, valued at Rs. 91,50,211/- were also seized under Panchanama d....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sources, like factory premises, depot premises and dealer premises clearly established that the excess amounts, over and above the bill amounts, were collected. It is also established that the appellant had personally collected such amounts and the employees had handled such accounts pertaining to unaccounted transactions, under instructions from the appellant. It is also stated that the nefarious transactions lasted continuously for several years and evasion of central excise duty took place during the period 1999-2000 till the date of search on 8-7-2003. 4. The question of law arising, as re-framed by us, from those the assessee raised in the memorandum, as follows : Whether the imposition of penalty to the tune of Rs. 20 lakhs on....