2003 (7) TMI 169

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....a Wadhwa, Member (J)]. - After dispensing with the condition of pre-deposit of duty of Rs. 12,05,727.00 (Rupees twelve lakh five thousand seven hundred and twenty-seven) and penalty of Rs. 3.00 lakh (Rupees three lakh) imposed upon the first applicant/appellant-company, M/s. Utkal Galvanizers Ltd. and penalty of Rs. 50,000.00 (Rupees fifty thousand) and Rs. 10,000.00 (Rupees ten thousand) imposed ....

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....uch is the fabrication job done by them and the figures representing the job work etc. The Commissioner did not accept the appellants' explanation and confirmed the demand by observing that the Balance Sheet is a statutory document prepared in accordance with the requirement of the Companies Act giving a true and fair view of the state of affairs and as such, the figures reflected therein cannot b....

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....t vis-a-vis RG-I figures explained as inclusive of sales of traded goods, cannot be made the evidence of allegation for clandestine removal in the absence of any other independent evidence. To the same effect is another decision of the Tribunal in the case of Steel Authority of India Ltd. v. Commissioner of Central Excise, Bhubaneswar reported in 2001 (47) RLT 343 (CEGAT - Kol.), laying down that ....