9911796707
TMI Blog2007 (1) TMI 186X X X X Extracts X X X X X X X X Extracts X X X X ..... able under Heading 6002.30 or under 6002.92". According to the revenue the same is classifiable under heading 6002.30 but the Tribunal by its order has decided the issue against the revenue and in favour of the assessee. Revenue involved in the instant case is Rs. 1.46 crores. 3. M/s. Jersy India Ltd., hereinafter referred to as the 'assessee', was enaged in the manufacturing of knitted fabrics of cotton and other knitted fabrics containing elastomeric yarn falling under Chapter 60 of the Schedule the Central Excise Tariff Act, 1985 (hereinafter referred to as the 'Tariff Act, 1985') and had been processing of such knitted fabrics since September, 1994 without obtaining Central Excise Registration Certification as required under Rule 174 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3) SSI benefit for the applicable period as stated above or grey/unprocessed fabrics of cotton containing elastomeric yarn of a width exceeding 30 cm. should not be denied for the contravention and reasons as stated above, and Central Excise duty should not be recovered/penalty levied amounting to Rs. 60,18,712/- and Rs. 12,68,206/-." 6. Extended period of limited under Section 11A of the Central Excise Act, 1944, hereinafter referred to as 'the Act', was invoked. 7. The assessing authority after going through the relevant record confirmed the demand duty of Rs. 60,18,712.00 and Rs. 12,68,206.00. Equivalent penalty of Rs. 60,18,712.00 and Rs. 12,68,206.00 was imposed under the provisions of Section 11AC of the Act and also imposed Rs. 50, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an application before the High Court seeking a direction from the High Court to pay dividend to workmen and secured creditors as per claim filed. The High Court by its order dated 24-3-2005 allowed the said application. In pursuance to the aforesaid order the official liquidator has disbursed the claims of the secured creditors. After disbursing the amount the official liquidator is now left with a balance sum of Rs. 14,55,545.50 which is to be adjusted towards government commission, liquidation expenses and other related expenses. 13. In view of the fact that the company in question and its assets/properties have already been sold and there is nothing which can be recovered by the revenue, we put an end to this litigation leaving the ques ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
