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M/s Suma Pharmaceuticals Pvt. Ltd. Versus Commissioner of Central Excise, Thane-I

2016 (9) TMI 34 - CESTAT MUMBAI

Demand and redemption fine in lieu of confiscation - duty on difference between closing stocks recorded in the Balance sheet of the year 2006-07, 2007-08 and 2008-09 with reference to the closing stock reported in the ER-1 returns - Held that:- it is .....

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rds is different from the stage at which the goods are recorded in the financial records. There is no other evidence of clandestine removal produced by the Revenue. Moreover the closing balance of one year in the financial record is appearing in the .....

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Dated:- 29-7-2016 - Shri Raju, Member (Technical) Shri C.S. Biradar, Advocate with Shri S.S. Mani Prakash, Advocate for Appellant Shri Sanjay Hasija, Supdt. (AR) for Respondent ORDER The appellant, M/s Suma Pharmaceuticals Pvt. Ltd., were issued show .....

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07, 2007-08 and 2008-09 with reference to the closing stock reported in the ER-1 returns. The demand of duty on such quantity of finished goods shown to be lying in the balance in the Balance-sheet whereas the ER-1 returns shown Nil balance. 2. Learn .....

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ance in the Balance-sheet of one year in the Balance-sheet of next year. He pointed out that the criteria used for recording the finished goods in Balance-sheet are significantly different from these required to be shown under the Excise Law. In thes .....

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es Ltd. - 2008 (229) ELT 218 (Tri) He further argued that there is absolutely no evidence of any clandestine clearance and in such circumstances, demand cannot be confirmed. He further argued that goods have been ordered to be confiscated and redempt .....

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