TMI Blog2009 (9) TMI 846X X X X Extracts X X X X X X X X Extracts X X X X ..... fter examining the records, we note that, in adjudication of a show-cause notice dated 6-6-2008, the learned Commissioner demanded duty of over Rs.28.66 crores from M/s. Raymond Ltd. (assessee) for the period 9-7-2004 to 6-4-2008 and imposed on them equal amount of penalty. The adjudicating authority also imposed penalties of Rs. 5 lakhs and Rs.10 lakhs on two functionaries of the company. The pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing raw material is the staple fibre falling under heading 55.03/55.04. Their Lordships, having regard to the new tax regime brought in place by the Government through the Finance Act, 2004, construed the relevant expressions used in the Notification and held that Polyester Tops (falling under Heading 55.06) manufactured from duty-paid tow were exempted from payment of excise duty as per the new ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... endment to Notification No. 30/04-C.E., was not before the Hon ble High Court. He refers to a new entry (Sr. No. 10a) inserted in the Notification w.e.f. 10-7-2009 by amending Notification (No. 12/09-C.E). With reference to the provisions of the new entry added to Notification No. 30/04-C.E., learned Jt. CDR submits that, had this provision been available to the Hon ble High Court, its decision wo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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