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2016 (7) TMI 1320 - CESTAT CHANDIGARH

2016 (7) TMI 1320 - CESTAT, CHANDIGARH - TMI - Clandestine removal - whether excise duty can be demanded on the basis of income surrendered before the Income Tax Authorities without adducing any independent evidence with regard to purchase of raw material, manufacture of finished goods and sale thereof or not?? - Held that: - reliance placed in the case of Arisudana Industries Ltd. Versus Commissioner of C. Ex., Ludhiana [2016 (2) TMI 986 - CESTAT CHANDIGARH], where it was held that duty is paya .....

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l (Judicial Member) The appellants are in appeal against the impugned order demanding duty alongwith interest and imposing penalty on both the appellants. 2. The facts of the case are that the appellants surrendered a sum of ₹ 5.5 Cr before the income tax authorities, during the course of survey conduct in their business premises. The Revenue considered the income surrendered of ₹ 5.5 Cr as gross profit and on the basis of gross profit @ 21.4% calculated deemed sale to the tune of &# .....

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efore us. 4. The ld. Counsel appearing on behalf of the appellants submits that the excise duty payable for manufacture on clearance of the goods. The revenue has not adduced any evidence to indicate purchase to raw material manufacture of finished goods and clearance, therefore, the duty cannot be demanded. It is further submitted that the appellants are engaged in manufacturer of bulk drugs which is raw material to pharmaceutical units. There is no evidence of movement of goods and the stateme .....

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