2016 (7) TMI 1172

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....gainst the impugned order imposing redemption fine and penalty on the appellant. 2.  The facts of the case are that the appellant is manufacturing rounds, square, flats and bars and have been clearing their finished goods at nil rate of duty availing exemption under Notification No. 8/03-CE dated 1.3.2003. On 22.10.2010, the preventive staff of Central Excise division , Mandi Gobindgarh visi....

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....posed on the appellant by the adjudicating authority. On appeal the Ld. Commissioner (A) reduced the redemption fine to Rs. 15,000,00/-. Aggrieved with the said order, the appellant is before me. 3.  Learned Counsel for the appellant submitted that the clearances were below the threshold limit of Rs. 1.5 crore upto 22.12.2010, therefore, it cannot be alleged that the goods found in stock wer....

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....nce, the redemption fine and penalty are imposable on the appellant. 5.  In this case, upto 22.12.2010, the stock as per books was 366.184 MT but the goods found short of 124.302 MT having the value of Rs. 40,64,675/- which are to be included in the value of the clearance. If the same is done, the clearance of the appellant exceeded the threshold limit of Rs. 1.5 crore as per Notification No....