TMI Blog2018 (5) TMI 1657X X X X Extracts X X X X X X X X Extracts X X X X ..... irming the demand on TMT bars, should have held the same evidence to be insufficient for confirming the demand in respect of ingots - the issue i.e whether third party records can be held to be sufficient for clandestine removal is the subject matter of various decisions of the Tribunal and it has been repeatedly held that the third party records cannot be considered sufficient for upholding the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of penalty of identical amount. In addition, penalty of ₹ 4,37,908/- - stand imposed upon the Director of the company. 2. As per facts on record M/s Bajrangbali Ingots Steel Pvt. Ltd. are engaged in the manufacture of ingots as also TMT bars. Factory of one M/s Pankaj Ispat Ltd., Raipur was put to search by the officers and various incriminating documents were recovered. As per the st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity. 4. However, on appeal, the Commissioner (Appeals) observed that the allegation of sending of ingots to the appellant by M/s Pankaj Ispat Ltd. and conversion of the same into TMT bars and clearance of bars in a clandestine manner, are based upon the third party records and statements. As such, he dropped the major part of the demand. However, in respect of the allegation of clandestine clea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pearing for the Revenue reiterates the findings of the lower authority and submits that M/s Pankaj Ispat having admitted receipt of the ingot, without payment of duty, from the present appellant, the demand is required to be confirmed. 7. After carefully considering the submissions made by both the sides, I agree with the ld. Advocate that the evidence in respect of both the types of allegation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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