TMI Blog2009 (7) TMI 410X X X X Extracts X X X X X X X X Extracts X X X X ..... factured and cleared goods clandestinely without accountal and without payment of duty - As regards the plea that the value of trading activity was also included in the figure shown in the value of clearances reflected in the balance sheet, I reject this argument as not tenable for the reason that the assessee being manufacturer was required to be registered for carrying trading activity for which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Venkataraman, Consultant, for the Respondent. [Order]. - The brief facts of the case are that the assessees herein are registered manufacturers of plywood and compreg boards. During the visit of the officers of the Divisional Preventive Unit to the factory of the assessees on 16-11-2004, and on verification of the records, registers and balance sheets, it was found that the value of clearance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing to trading activity was rejected by the adjudicating authority who confirmed a demand of Rs. 41,300/- under proviso to Section 11A of the Central Excise Act, 1944 together with appropriate interest and imposed equal amount of penalty under Section 11AC of the Act and a penalty of Rs. 1,000/- under Rule 25 of the Central Excise Rules, 2002. The Commissioner (Appeals) accepted the explanation of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... value of trading activity separately and the figure of little over Rs. 67 lakhs represented value of clearances as a composite/consolidated figure and therefore the assessee has not been able to substantiate the plea that they were also carrying on trading activity and had included the value of such activity in the total figure of little over Rs. 67 lakhs in the balance sheet. I, therefore, hold ..... X X X X Extracts X X X X X X X X Extracts X X X X
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