9911796707
TMI Blog2010 (3) TMI 459X X X X Extracts X X X X X X X X Extracts X X X X ..... OL/2010 - Dated:- 17-3-2010 - S/Shri S.S. Kang, Vice-President and M. Veeraiyan, Member (T) REPRESENTED BY: Shri Dinesh Jha, Consultant, for the Appellant. Shri A.K Sharma, JDR, for the Respondent. [Order per S.S. Kang, Vice-President]. - Heard both sides. The appellant filed this appeal against the impugned order whereby demand of Rs. 67,42,153.00 was confirmed by invoking extended period of limitation on the ground of suppression of facts and penalty of the equal amount has been imposed under Section 11AC of the Central Excise Act. The appellant is a conversion agent of M/s. Tata Iron Steel Company Ltd. (M/s. TISCO). The appellants receive HR Sheets in Coils from M/s. TISCO and were availing credit in respect of duty paid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of clearance of such goods. 4. The contention is that the inputs are not cleared as such and after due certain processing, the same are cleared and are sold in the market in the lower price, hence, the demand is not sustainable. 5. It is also submitted by the appellants that the major portion of demand is time barred. The show cause notice was issued on 4-5-2005 demanding duty for the period April, 2002 to March, 2005 alleging suppression of facts with intent to evade payment of duty. The contention is that as the appellants were clearing the rejects under the appropriate duty paying documents and the same are submitted regularly with monthly statutory returns to the Revenue, therefore, the allegation of suppression with intent to eva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the duty is being paid by a reversing less credit, then availed at the time of receipt, to the consignment agent of TISCO. As the inputs on which the credit has been availed and had undergone certain mi nor process which does not amount to manufacture and the same are cleared under the same Tariff Heading which covers Flat Rolled products of iron or non- alloy steel and from the documents on record, we find that the quantities of clearances are in Matric Ton. In the circumstances, we find that the HR Sheets for which the credit has been availed as inputs are cleared as HR Sheets. Therefore, the appellants are liable to reverse the credit equal to the credit availed at the time of receipt in the factory. In the circumstances, we find no infi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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