2003 (11) TMI 490

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..... aggrieved against the orders, of confirmation of duty demands and penalty under Section 11AC, delivered by the lower authorities on the shortages noticed of HDPE granules, an input on which credit was availed. 2. They had during the course of enquiries taken a stand that the shortages were on account of floods, which claim was supported by various claims of insurance etc. and the submission .....

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..... to the capital goods, civil works, final products other inputs are brought on record. The explanations therefore of loss by flood are not accepted. Demands as made are payable. 4. The adjudicating authority has confirmed the penalty under Section 11AC read with Rule 57U(1)(4), equivalent to the duty required to be paid and reversed after the enquiry began. The appellant is held to be liable .....

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