2003 (5) TMI 373

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..... s appeal has been filed by the appellants against the Order-in-Appeal dated 28-6-2002 vide which the penalty of Rs. 50,000/- has been affirmed by the Commissioner (Appeals) against the appellants. 2. The facts are not much in dispute. The appellants are traders. As a result of physical verification of their stock by the Central Excise Officers, shortage of 10200 Kgs. of synthetic/acrylic waste w .....

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..... enalty amount as the penalty imposed is quite exorbitant. Learned JDR has, however, contested the prayer of the Counsel. 4. I have gone through the record. Keeping in view the facts and circumstances of the case and the fact that no duty evasion can be said to have been committed by the appellants who are only traders and the person to whom they sold the goods had not claimed any Modvat credit, .....

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