2003 (11) TMI 502
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....dustries Ltd., Wardha during the period 12-3-97 to 26-3-97 without physical/actual receipt of the consignments covered under such invoices and has imposed a penalty of equal amount on the assessee company, along with penalty of Rs. 5,50,000/- on Shri Pankaj Desai, the Joint General Manager of the company. The finding is based upon the following :- (i) The non-accountal for the receipt of the 98 consignments of H.R. coils in question in their regular security/stocks registers but only in separate registers viz. Register No. 7. (ii) Out of the number of vehicles stated to have transported the consignments from their Murbad unit to Dombivli, 13 vehicles were ....
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....lekar, Material Asstt. Officer in his statement dated 24-1-97 is that he was maintaining account of incoming raw materials in one register and in addition, he maintained another Register for the period 12-3-97 to 26-3-97 and this register showed materials received from Murbad. Shri Pankaj Desai, Joint Manager of M/s. Lloyds stated that their company was engaged in the manufacture of Cold Rolled steel strips for which Hot rolled coil was the raw materials, H.R. coils were procured from M/s. Lloyds Steel Inds. Ltd. and the same were received in Dombivli plant in width from 800 to 1200 mm and were sent directly to cutters i.e. their own Pipe Division at Murbad and other unit in Taloja for further slitting in various widths ranging from 300 mm ....
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.... appellants received inputs from any other source so as to be able to manufacture their final products. There is also no evidence on record that the consignments in question were found elsewhere. Murbad unit was also visited and records verified as to whether coils were slitted and sent to Dombivli and nothing incriminating has been found as seen from the statement of Shri N. Hariharan, Asstt. Manager, Excise of the Murbad plant. Records seized from the Murbad plant have not been relied upon against the appellants. In the above circumstances, we hold that the maintenance of separate register is not sufficient proof of non-receipt of inputs in the appellants' factory. Regarding the finding of the Commissioner that the consignments in disput....