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2017 (5) TMI 142 - CESTAT KOLKATAClandestine removal - penalty - The main contention of the Ld. A.R. of the Revenue is that Shri Sanjay Khaitan, Director of the respondent Co., in his statement admitted the clandestine removal of the goods - It is further contended that the retraction of the statements nothing but an afterthought and is not acceptable - Held that: - Apparently, the investigation officers, had proceeded on the basis of the statement recorded at the time of visit. Subsequently, the statement was retracted - In any event, there is no material on record of further investigation of the case. Revenue has not placed any positive evidence before the Tribunal except the statement of the Director which was subsequently retracted - appeal dismissed - decided against Revenue.
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