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2008 (5) TMI 208 - CESTAT AHMEDABADChit was recovered from the drawer of Director showing clandestine removal of goods – no explanation of the chit from assessee - goods cleared by them without payment of duty in the open market - raw material for the same was purchased from the local market on cash basis – huge unaccounted quantum of imported raw material was also present in factory – demand is sustainable – but revenue plea for enhancement of penalty is rejected
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