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2018 (1) TMI 630 - AT - Central ExciseDemand in respect of trading activity - It is the submission that demand on the trading activity as dropped by the First Appellate Authority is based on the certificate issued by the Chartered Accountant who had reconciled the entire detail - Held that: - It can be seen from the impugned order that the First Appellate Authority in Paragraph 11.2 to 11.7 has categorically recorded the findings in detail after considering the Chartered Accountant Certificate, statements of the various persons recorded, the ledger accounts as produced by the assessee. It is also seen from the said records that Chartered Accountant who had certified that their trading activity is statutory auditor - the First Appellate Authority was correct in dropping the demands of the duty of ₹ 32,76,128/- on a sound reasoning - the appeal filed by the Revenue is devoid of merits and is rejected. SSI exemption - threshold limit - Held that: - the demand of the duty liability on the appellant needs to be tested with the plea of the appellant s counsel that they are eligible for SSI Exemption during the relevant period. In order to do so, it is imperative that the adjudicating authority be given an opportunity to decide the matter after considering the submissions of the appellant assessee herein - matter on remand. Appeal allowed in part nad part matter on remand.
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