TMI Blog2015 (5) TMI 698X X X X Extracts X X X X X X X X Extracts X X X X ..... ect. Consequently the same cannot be confiscated. In these circumstances, the confiscation of the Indian currency is set aside. Further, I find that for the goods seized at their business premises valued at ₹ 20,27,870/-, the redemption fine was imposed of only ₹ 25,000/- whereas the goods valued at ₹ 91,58,842/-, the redemption fine imposed is ₹ 300,000/- which is highly excessive - Decided partly in favour of assessee. - Excise Appeal No. 56987-56990 of 2013-(SM) - - - Dated:- 3-3-2015 - Ashok Jindal, Member (J),J. For the Appellant : Shri R Prasad, Adv. For the Respondent : Shri G R Singh, AR ORDER Per: Ashok Jindal: The appellant is in appeal against the impugned order. 2. Brief facts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... semi-finished goods were held for confiscation and same were held to be redeemed on payment of redemption fine of ₹ 3 lakhs. The seized currency was also held liable for confiscation and same was appropriated. The penalty on Goyal Auto Products was imposed to the tune of ₹ 64,11,190/-. The penalty of ₹ 2,50,000/- each was imposed on Shri Rahul Goyal and Shri Raghubar Dayal Goyal, Directors. The goods valued at ₹ 20,27,870/- were also held liable for confiscation which were found from their office at Nai wala, Karol Bagh and same was allowed to be redeemed on payment of redemption fine of ₹ 25,000/-and penalties of ₹ 50,000/- each on both Directors were imposed. 3. Revenue has also filed appeal before l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt were involved in the activity of clandestine manufacture of the goods, therefore, redemption fine and penalty imposed on the appellant are appropriate. Therefore, impugned order is to be upheld. 8. Heard the parties. Considered the submissions. 9. In this case, penalty under section 11AC of the Act is not imposable as in this case as duty demand has already been dropped by the learned Commissioner (Appeals). Further, I find that currency seized is the amount withdrawn from the bank which is not the sale proceed of the goods. Nobody will keep the amount recovered from the clandestinely removed goods in bank, therefore amount seized was not the sale proceeds of the goods which have been cleared clandestinely. In these circumstances, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
