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2006 (2) TMI 174 - SUPREME COURTConfiscation and penalty - Waste - whether the scrap lying with the appellant in its factory premises for the purposes of recycling the same would be a waste and, therefore, liable for confiscation and consequential penalty - Held that:- Since the adjudicating authority had held the demand beyond the period of limitation and dropped the same, in our view, there was no occasion for the tribunal to go into the question of classification, especially when the Tribunal agreed that the demand created was beyond the period of limitation. Question of classification is left open. There being no finding that the appellant intended to take the scrap outside the factory premises, the confiscation of the scrap which, according to the appellant, was to be recycled, cannot be held to be justified and, consequently, the confiscation of scrap as well as penalty levied cannot be sustained - Decided in favour of assessee
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