9911796707
TMI Blog2019 (12) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... n supplementary invoices raised by South Eastern Coalfields Limited (a PSU) for supply of coal to the appellant. 3. The appellant is engaged in the manufacture of iron and steel products. Their main raw materials are pig iron, coal, sponge iron. The finished goods/ products are MS ingots and steel grits. During physical verification of stock of raw material and finished goods, a panchnama proceeding on 07.11.2015 was drawn. The Revenue officer took a declaration of the stock of raw material and finished goods as per record from Shri Ajay Kumar, Authorised Signatory. The physical verification was done with the help of Shri Dinesh Patel, a Surveyor/employee with SECL, a qualified person. As per the physical verification, the following compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llows: Q. No. 6: Search and preventive search was conducted in your factory premises under Panchnama dated 07.11.2015 in presence of you and Shri N. K. Ajay Kumar, manager commercial and Authorised Signatory of your company. Are you satisfied with the Panchnama proceeding conducted in your factory premises? Ans. Yes Sir, i am very much satisfied with the Panchnama proceeding conducted in our factory premises on 07.11.2015. Q. No. 7 The physical verification of the stock lying in your factory conducted under Panchnama dated 07.11.2015 reveals that there was physical shortage in the stock of Pig Iron, Coal, M.s. Ingots, Steel Shorts and Grits and Sponge Iron as detailed in panchnama dated 07.11.2015, than the recorded stock as declar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n cess, etc. is sub judice before the Hon'ble Supreme Court. 6. The show cause notice was adjudicated on contest and the proposed demand confirmed, both the amounts were appropriated from the amount of pre-deposit. It was further ordered to recover the interest and penalty of Rs. 7,76,382/- was imposed under Section 11AC (1)(c) of the Central Excise Act and further penalty of Rs. 3,00,000/- under Rule 26 of Central Excise rules, 2002 was imposed on the Director, Shri Manoj Parasrampuria. 7. Being aggrieved, the appellant preferred appeal before the Commissioner (Appeals) who vide impugned order was pleased to confirm the duty and penalty on the appellant company. However, reduced the penalty on the Director to Rs. 1,50,000/-. Being aggri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aterial at the time of verification, and the statement of Director recorded who deposed that such shortage have been cleared by them without issue of invoice. Under such facts and circumstances, this Tribunal observed that on the basis of shortage so detected and the statement of the Director, no case of clandestine removal is made out in absence of complete evidence leading towards clandestine activities. Though, an admission is extremely important piece of evidence, it cannot be said to be conclusive in itself. As regards the second issue, regarding disallowance of cenvat credit, the appellant relied on the precedent decision of this Tribunal in the case of M/s Jaypee Rewa Plant vs. CCE&ST, Jabalpur, being final Order No. 52901/2018 dated ..... X X X X Extracts X X X X X X X X Extracts X X X X
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