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TMI Blog2013 (8) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... SUPREME COURT] - Decided against assessee. - CEAC 38/2013 - - - Dated:- 9-7-2013 - Sanjiv Khanna And Sanjeev Sachdeva,JJ. For the Petitioner : Mr. P. C. Jain, Mr. Rajesh Kumar and Mr. Sandeep Jain, Advocates. For the Respondent : Ms. Sonia Sharma, Sr. Standing Counsel and Ms. Sonakshi Dhiman, Advocate. ORDER NC Cables Limited, formerly known as National Cable Industries, has preferred this appeal against the order dated 8th February, 2013 passed by Customs, Excise and Service Tax Appellate Tribunal. 2. Learned counsel for the appellant submits that the order passed by the tribunal is perverse as it has been wrongly recorded that four units from whom the appellant had made purchases and claimed Modvat credit were f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 08, 10.10.2008, 23.10.2008 and 5.11.2008. On 23.05.2008, Shri P.C. Jain, Advocate appeared for personal hearing. He was informed that letters could not be served to Shri Kejriwal as the flat was locked and the letters were also pasted at their known residential address and a Panchnama was drawn. However, Shri P.C. Jain, Advocate was not satisfied about the procedure that was being followed. He insisted that the procedure that is being prescribed under Section 37C should be adopted and only after that revised submissions may be submitted by them and they should be informed that witnesses are not traceable. He submitted that he had nothing else to state. 24. On this basis the procedure under section 37C was adopted. Since Shri K.C. Kejriwal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... no copper bars were physically and actually received by them for processing or conversion into rods of 6 mm or lower thickness. The copper bars were then sold in the open market. No manufacturing activity was undertaken by these two units since July, 1991 and in 1992. Statements of Sunil Kejriwal and K.C. Kejriwal was recorded wherein they accepted the aforesaid charges. Assessments were framed against M/s Kejriwal Enterprises and M/s Priyanka Metals and the said allegations have been confirmed. During the course of investigation against M/s Kejriwal Enterprises and M/s Priyanka Metals and on scrutiny of records, it came to the knowledge of the department that the appellant had wrongly availed Modvat credit on fictitious and wrong invoices ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oes not mean either in law or in Latin that the buyer must take chances. It means that the buyer must take care. See Wallis v. Russell MANU/QB/0448/1902. 22. Caveat emptor is the ordinary rule in contract. A vendor is under no duty to communicate the existence even of latent defects in his wares unless by act or implication he represents such defects not to exist. (See William R. Anson, Principles of the Law of Contract 245 (Arthur L. Corbin Ed.3d. Am. ed.1919) Applying the maxim, it was held that it is the bounden duty of the purchaser to make all such necessary enquiries and to ascertain all the facts relating to the property to be purchased prior to committing in any manner. 23. Caveat emptor, qui ignorare non debuit quod jus a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd took requisite precautions to find out about the genuineness of the SIL which he was purchasing. If he has not done that consequences have to follow. These aspects do not appear to have been considered by the CESTAT in coming to the abrupt conclusion that even if one or all the respondents had knowledge that the SIL was forged or fake that was not sufficient to hold that there was no omission or commission on his part so as to render silver or gold liable for confiscation. 6. In view of the aforesaid factual position, which has been noticed by the tribunal and also highlighted in the order in original and in the first appellate authority, we do not think any substantial question of law arises for consideration. The appeal is dismisse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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