TMI Blog2018 (10) TMI 1005X X X X Extracts X X X X X X X X Extracts X X X X ..... any evidence to show that the appellant were engaged in the activity of under valuation and manufacturing of the goods and the case has been made out only on the income surrendered to the Income Tax Department in that circumstances, central excise duty cannot be demanded as Central Excise duty is payable on goods manufactured by the assessee. Admittedly, no evidence has been produced by the R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the appellants have surrendered the income of ₹ 1.50 crore, the same was presumed by the Revenue is the profit of the goods manufactured and undervalued by the appellant. The impugned show cause notice was issued to demand duty and to impose penalty on both the appellants. The matter was adjudicated. The income surrendered to the Income Tax Department was held to be the income of the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Central Excise duty is payable on goods manufactured by the assessee. Admittedly, no evidence has been produced by the Revenue how the goods were manufactured, how the inputs were procured, how the final goods were sold by the appellants. In that circumstances, relying on the decision of this Tribunal in the case of Thakur Steel and Agro Industries (Supra) and Kipps Education Centre, Bathinda V ..... X X X X Extracts X X X X X X X X Extracts X X X X
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