2009 (1) TMI 291

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..... This appeal is against an order passed by the learned Tribunal on 14th December, 2007. It appears that the learned Tribunal after considering the facts and the material placed before it affirmed the demand made on the appellant to the tune of Rs. 5,24,23,603/- and equal amount of penalty was also imposed by the adjudicating commissioner, and thus the adjudicated loss has been detected at the tim....

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....e to the conclusion that the show-cause notice as well as the order passed by the authority and the demanded amount has been worked out only in respect of the losses in excess condonable limit prescribed under the circular issued by the Board. It also appears that the learned Tribunal duly came to the conclusion that the excess in respect of rails cannot be set off against the shortages of 'Z' pil....