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2015 (12) TMI 250 - CESTAT MUMBAILoss and stock of the waste paper in a fire - whether indigenous goods or imported goods - Bexemption under notification No. 21/2008-Cus dated 1/3/2008 - demand of custom duty as well as denial of Cenvat Credit availed in respect of CVD - Held that:- Applicants were given sufficient opportunity to justify their claim that goods lost in fire is indigenous goods. However, applicant neither submitted any record nor explained their claim before the adjudicating authority during the denovo adjudication. Moreover there was serious manipulation appearing on records that the applicants were maintaining two parallel Form IV register and the stock shown in both the register and entries of imported goods were also wrongly made. In the remand matter this Tribunal has categorically stated to follow the FIFO principle, however applicant has not done anything to comply with the direction of the Tribunal. In view of this position it is clear that the entire goods lost in fire is indeed imported material and when it is so, demand of entire custom duty, excise duty is sustainable in toto. - Decided against assessee.
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