2001 (6) TMI 82

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....rder per : Jyoti Balasundaram, Member (J)]. - Brief facts of the case are that the appellants are engaged in the manufacture of molasses. On 28-12-1994 the Central Excise (Preventive) staff from Ropar visited the factory premises of the appellant and scrutiny of the records revealed that the factory had cleared 4065.535 MTs of molasses at various rates during the period from March to May, 1994 on ....

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....the reason that the additional consideration in the form of compensation received by the appellant from Punjab Government had not been disclosed to the Department. A penalty of Rs. 66,171 was imposed under Section 11AC. The Additional Commissioner noted that the assessee had already debited some amount towards duty and therefore directed adjustment of present duty demand from the amount already de....