2002 (1) TMI 242

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....r (J)]. - These are two appeals filed by the appellants, accompanying with the stay applications. 2. By impugned order, the Commissioner has imposed penalty of Rs. 1 lakh under Rule 173Q of the Central Excise Rules on the first appellant, M/s. India Cements Ltd. and Rs. 10,000 on G.S. Naidu, Assistant General Manager of the Company. 3. After hearing for sometime, with reference to the stay a....

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....ies were made in PLA after presentation of cheques to the Department. The cheques were not dishonoured but duly realised. Goods were cleared on the basis of entries made in PLA after presentation of cheques. The Department had correspondence with the bank and found that the appellants did not have credit balance in the bank account. It was submitted by the Counsel that the cheques were duly realis....

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...."27. In the present case the assesses have failed to maintain sufficient balance in their account current inspite of their declaration/undertaking given at the time of presenting cheques to maintain the same. As a result of the above, the goods were cleared from the factory on which the duty element is Rs. 1,35,41,878/-, contrary to the provisions as stated above. However, I consider the lapse as ....

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....there was no justification in imposing penalties. In support of his contention he referred to the following decisions :- (1)     Apex Steels (P) Ltd. v. CCE, Chandigarh - 1995 (80) E.L.T. 368 (T) (2)     Sona Wires (P) Ltd. v. CCE, Raipur - 1996 (87) E.L.T. 439 (T) (3)     Synthetics and Chemicals Ltd. v. CCE, Kanpur - 1997 (89) ....