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2017 (2) TMI 879 - AT - Central ExciseConfiscation of Indian Currency - whether there was sale of illegally manufactured goods and the currency, which are confiscated are the sale proceeds? - Held that: - The Revenue fails to prove that Indian Currency of ₹ 23.15 lacs is the sale proceeds of excisable goods illegally manufactured and cleared so - The documents produced in this regard by the appellants like the “Agreement to Sell”, copy of Resolution of Board of Directors, and affidavit of “Agreement to Sell” cannot be taken as false evidences - Further the Commissioner, Income Tax (Appeals), has also ruled that the said amount is not an extra income, from sale of illicit manufacturing and clearance of excisable goods but is the part of the payments made by M/s. M.D. Buildwell (P) Ltd. - confiscation of currency set aside. Confiscation of excess copper scrap - Held that: - various explanations mentioned by the assessee appellant and the pleadings that such estimation of the excess is an eye estimation only have not been appropriately considered by the Commissioner (Appeals) - matter to be remanded. Appeal disposed off - part matter allowed - part matter on remand.
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