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2014 (2) TMI 695 - AT - Central ExcisePenalty u/s 11AC - Demand on the basis of shortages of raw material and the hypothetical calculations of production of final product and clandestine clearances of the same - Held that:- Investigation team did not find any stock during investigation. Inextricable link of clandestine removal of finished goods was established from incriminating documents and evidence including private recorded found in the course of investigation. Unaccounted sale was admitted by buyer. Shortage of scrap of 175.608 MT of scrap, 3.92 M.T. of Ferro Manganese and 50 Kg. of Ferro silicon was well evident from statement of Shri P.S. Gehlot. These goods were used in manufacture of steel castings on the basis of clear admission of assessee. Evasion of duty of ₹ 6,65,309/- was established. Therefore, nothing was presumed nor assumed by investigation when that remained un-rebutted in adjudication. Accordingly decision of the learned technical member cannot be said to have been based on no evidence or inadequate evidence - impugned order of Commissioner (Appeals) is set aside and Revenue's appeal is allowed by restoring the order of original adjudicating authority - Decided in favour of Revenue.
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