Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2017 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (12) TMI 541 - AT - Central ExcisePenalty u/r 26 - violation of import conditions - case of the Revenue is that such export did not happen and the goods have been diverted in domestic market in violation of condition for duty free procurement - Held that: - The Role of Shri Pankaj Agrawal has been brought out clearly in the impugned order. he was handling the sales of the main party and was closely connected with the business activities to the effect of virtually managing the same. Similarly, the other two appellants, who themselves had a separate unit under their control, Shri Krishna Kumar Gupta and Shri Pramod Agrawal, were the Directors of M/s Ultimate Mercantile Ltd. and it is brought out in the investigation that Shri K.K. Gupta also a Director of M/s Unique Ltd. opened a bank account in his capacity as the Director and also opened a joint account with shri Pramod in the same bank. These two bank accounts were extensively used to transfer the sale proceeds and the illegal gains that accrued by diversion of goods which were originally procured without payment of duty and intended for export, but diverted to domestic market on a profit - penalty upheld - appeal dismissed.
|