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2016 (7) TMI 1172 - CESTAT CHANDIGARH

2016 (7) TMI 1172 - CESTAT CHANDIGARH - TMI - Redemption fine and penalty imposed - clandestine removal of goods - non recording of shortage in their statures records - Held that:- 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 ₹ 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 ₹ 1.5 crore as per Notif .....

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y imposed on the appellant are highly excessive, therefore, the redemption is reduced to ₹ 1 lakh (one lakh) and penalty to ₹ 50,000/- (fifty thousand). - E/52909/2015 - Final Order No. 60069/2016 - Dated:- 13-5-2016 - Mr. Ashok Jindal, Member (Judicial) Present for the Appellant : Shri Sudeep Singh, Adv. Present for the Respondent : Shri Satyapal, AR ORDER The appellant is in against the impugned order imposing redemption fine and penalty on the appellant. 2. The facts of the case a .....

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hortage of finished goods 124.302 MT valued at ₹ 40,64,675/-. As the appellant has not recorded such shortage in their statures records, the value of finished goods sold by them exceeded the threshold limit of SSI exemption limit under Notification No. 8/03-CE dated 1.3.2003 of ₹ 1.5 crore. In that circumstance, the finished goods found in their factory i.e. 211.882MT was alleged to be meant for clandestine removal by the appellant, therefore, the said goods were seized and allowed t .....

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