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2014 (9) TMI 408 - PUNJAB AND HARYANA HIGH COURTPenalty under Rule 25 of the Central Excise Rules, 2002 - Redemption fine - retracted statement - Held that:- There are cogent and justifiable reasons assigned by the Tribunal in negating the retracted statement offered by proprietor of the assessee-appellant. Even the learned counsel has not been able to point out anything from the record that the alleged labourers were ever produced for examination in support of the retracted statement. The case of the Revenue is well supported that there was excess of 31.331 MTs of finished goods, which were not accounted for in the records maintained by the assessee-appellant. The Tribunal has rightly held that the assessee-appellant was aware of the fact that the raw material of the goods in question was purchased from the gray market and the same was not accounted for. Had there been no detection, the finished goods would have been certainly cleared without payment of duty and without issuance of any invoice. The retraction is nothing but to create a false plea of defence only. Thus, the redemption fine and penalty has been rightly imposed. Decided against assessee.
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