2008 (5) TMI 208

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....ondent. [Order]. - Both the appeals, one filed by the assessee and the other by the Revenue are being disposed of by a common order as they arise out of the same set of circumstances. 2. The assessee's factory was put to search on 22-12-2001 and as a result one chit was recovered from the drawer of the table of Shri R.S. Agarwal of the company. In his statement, Shri Agarwal admitted that th....

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....al adjudicating authority confirming customs duty in respect of seized imported goods, along with confirmation of interest and imposition of penalty under Customs Act. He also confirmed central excise duty of Rs. 2,53,856/- in respect of clandestinely removed goods along with confirmation of interest and imposed identical amount under Section 11AC of the Act. Penalty of Rs. 10,000/- was imposed on....

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....said statement was not retracted. Further, unaccounted stock of raw material was found in the factory, thus, leading credence to the revenue's stand on the entries that appellant is indulging in clandestine removal. He accordingly, confirmed the demand of duty but reduced the penalty to Rs. 50,000/- on the manufacturing unit and to Rs. 5000/- on Shri R.S. Agarwal. The said order is appealed agains....

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....t be expected to establish the identity of the seller of the raw materials or purchaser of finished product. Further, the fact that huge quantum of imported raw material was present in the appellant factory without making any entry in the records tilts the weight of the evidence in favour of the revenue. As such, I find no merits in the assessee's appeal and reject the same. 6. Revenue's appeal....