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2022 (5) TMI 649 - AT - Central ExciseClandestine removal - MS Ingots - MT TMT Bar - MT Sponge Iron - unsubstantiated third party records - corroborative evidences or not - demand alongwith penalty - HELD THAT:- The demand have been confirmed against the appellants with penalty in a mechanical manner. Further there is lack of sufficient evidences or corroborative evidences in support of the allegations of the Revenue. This Tribunal in similar facts and circumstances in the case of M/S. RAMNIWAS ISPAT PVT. LTD., MR. RAKESH JALAN VERSUS C.C.E., RAIPUR [2018 (7) TMI 521 - CESTAT NEW DELHI] under similar facts and circumstances of alleged clandestine clearance to Pankaj Ispat, have allowed the appeal holding that demand and penalty is not sustainable on the basis of the third party evidence, in absence of any corroborative evidence/ admission on the part of the assessee. Appeal allowed - decided in favor of appellant.
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