9911796707
TMI Blog2010 (12) TMI 951X X X X Extracts X X X X X X X X Extracts X X X X ..... narrate the genesis of instant dispute, the facts are succinctly produced as under:- The regular assessment under section 143(3) of the Act, in respect of the assessee herein M/s Padmini Technologies Ltd, for the assessment year 1997-98, was completed on 31.03.2001. Subsequently, the Department received a report from the Directorate of Revenue Intelligence that the assessee M/S Padmini Technologies Ltd., which had obtained 25 advance licenses from Director General of Foreign Trade under DEEC scheme for duty free imports, has grossly over invoiced export of CD ROMs to show its export obligations as having been fulfilled. It was alleged in the aforesaid report that the assessee had partly sold a few of these licenses to various impor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee under section 68 of the Act. 4. The appeal preferred by the assessee before the CIT(A) was of no consequence as the CIT(A) confirmed the additions made by the AO. Meanwhile, the Revenue went in appeal against the admission order passed by the Settlement Commission. Civil writs bearing no. 3549/2003 and 3565/2003, which pertain to this appeal, were disposed of by this court vide its order dated 20.11.2004 with the directions to the Settlement Commission to dispose of the proceedings expeditiously after permitting the petitioner therein to produce documentary evidence on record on which the reliance was place by the revenue and thereafter examine all the issues on law and facts. The Settlement commission passed its final o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r Sec. 127C (7) of the Customs Act, 1962 subject to the following terms and conditions:- (1) The applications are settled with additional duty liability of Rs.33,37,275/- admitted by M/s Padmini Polymer Ltd., i.e. to the extent corresponding to their failure to meet the export obligation. The applicant has already deposited Rs.2.5 crores voluntarily even as per the SCN, against which the presently settled duty of Rs.33,37,257/- has already been ordered to be appropriated and adjusted by the Admission Order dated 5-8-02. The balance amount of duty deposit, if any, may be refunded to M/s Padmini Polymers Ltd. after adjustment of penalty and interest ordered below, on an application to be filed by them and as per the due process of law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T(A) in this appeal no. 119/2003-03 and sent the matter back to the CIT(A) to frame denovo appellate order after considering the final order passed by the Settlement Commission and the letter of Directorate of Enforcement dated 2.03.2005 and also after allowing due opportunity of hearing to the parties. 6. The CIT(A), after considering the matter in accordance with the directions passed by the ITAT came to the following conclusions:- "That the charges of over invoicing have not been conclusively proved by the Revenue. The evidence put forth in this regard can utmost be said to be in the realm of speculation. That there is no allegation of any Hawala payment or any evidence that the proceeds received were in respect o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009, refused to interfere with aforesaid order of the CIT(A) as it could not found any infirmity in the same. Though the Revenue took a plea before the ITAT that the Custom Department has not accepted the order of the CandCESC and has filed an appeal before the High Court but the ITAT was of the view that this could not be a reason to interfere with the order of the CIT(A). Another contention of the Revenue that the CIT(A) has completely relied upon the order of the CandCESC and failed to appreciate the overwhelming evidence against the assessee brought by the AO could not bear any fruit as the Tribunal was categorical in its finding that it is clearly mentioned in the letter dated 2.03.2005 of the Directorate of Enforcement that the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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