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2018 (3) TMI 1056 - HC - Central ExciseClandestine removal - Penalty - Admissibility of statement - Whether the Tribunal was correct in allowing the appeals of the assessee, solely by holding that there is no Sufficient corroborative evidence to statement tendered by partner of assessee, even when Statement tendered by Central Excise Officer is admissible before court of law as piece of evidence and thereby deleting the penalty of ₹ 2,00,000/-? Held that: - the controversy involved in the appeals is covered by the decision of this Court in case of Commissioner of Central Excise vs. Tara Chand Naresh Chand [2018 (1) TMI 209 - RAJASTHAN HIGH COURT], where reliance placed in the case of Continental Cement Company vs. Union of India [2014 (9) TMI 243 - ALLAHABAD HIGH COURT], where it was held that unless there is clinching evidence of the nature of purchase of raw materials, use of electricity, sale of final products, clandestine removals, the mode and flow back of funds, demands cannot be confirmed solely on the basis of presumptions and assumptions. Appeal dismissed - decided against Revenue.
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