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M/s Goyal Auto Products Pvt Ltd, Shri Raghubir Dayal Goyal, Shri Rahul Goyal Versus Commissioner of Central Excise, Delhi-I

2015 (5) TMI 698 - CESTAT NEW DELHI

Penalty u/s 11AC - Clandestine removal of goods - Held that:- 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 Further, I find that currency seized is the amount withdrawn from the bank which is not the sale proceed of the goods.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 cleare .....

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rtly 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 of the case are that appellant is manufacturer of auto parts. The appellant Goyal Auto Products Ltd. is a manufacturer of auto parts. On 23.3.2010, the officer of Anti evasion, of Central Excise Departme .....

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nor entered in the panchnama. Later on 20.8.2010, the currency found at the time of search was also seized thereof. Proceedings were initiated against the appellant and co-appellants for confiscation of the goods found during the search and for confiscation of currency seized and for imposition of penalty on all the appellants. The adjudication took place. The finished goods were held liable for confiscation. Consequently redemption fine of ₹ 3 lakh was imposed by the adjudicating authorit .....

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propriated. 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 .....

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. The option was given to them to release the confiscated Indian currency on payment of redemption fine of ₹ 1,58,000/- and rest of the adjudication order was confirmed. 5. Aggrieved from the said order appellants are before me. 6. Learned Counsel for the appellant submits that in this case penalty under section 11AC is not imposable as there is no duty demand against the appellant. He further submits that redemption fine imposed on the finished goods is highly excessive. Further, he submi .....

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