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2015 (2) TMI 1135 - AT - Central ExciseEvasion of Central Excise duty - suppression of production and clandestine removal of its final products - admission made by director of evasion - Held that:- As stated earlier, Shri Vinod Kumar Yadav, Director, himself admitted the shortage and the entire impugned duty was also paid at the time. When Director himself admitted the shortage in his voluntary statement which was never retracted, it is not understood, who was going to cross-examine Shri Shree Ram Khandelwal and the panchas and to what end. The Director himself had admitted in his statement (which was recorded almost a fortnight after 16-8-2007) the contents of the statements of Shri Shree Ram Khandelwal which were recorded after drawing the panchnamas. The Director never retracted his statement nor even allege any threat or inducement. The respondents are bound by the admission made by their Director and could not later on complain that the shortage was not properly arrived at. Even at the time of signing of the panchnama prepared at the spot, the Director of the respondents or any other representative never took exception to the mode of verification adopted by the officers for arriving at the quantity of the goods found short.See COMMISSIONER OF CENTRAL EXCISE, CHANDIGARH Versus NABHA STEELS LTD. [2004 (4) TMI 143 - CESTAT, NEW DELHI ]. It is evident from the foregoing including the inculpatory statement of Shri Vinod Kumar Yadav, Director that he is clearly liable to penalty under Rule 26 ibid. - Decided against assessee
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