9911796707
TMI Blog2004 (11) TMI 391X X X X Extracts X X X X X X X X Extracts X X X X ..... of M.S. Rounds and M.S. Angle and Joist, which was seized for violation of Rule 57GG of Central Excise Rules, 1944. The officers also found shortages in the stock of some other goods. Show cause notice was issued to the appellants for recovery of central excise duty of Rs. 1,48,435.86 on 114.562 MT of M.S. Channels, M.S. Bars, M.S. Flats and M.S. Plates found short and for confiscation of the excess stock besides imposition of penalty. The Dy. Commissioner adjudicated the show cause notice holding the excess stock liable for confiscation and ordering a fine of Rs. 5 Lakhs in lieu of confiscation and appropriated Rs. 10,000/- from the security furnished for provisional release of goods to recover this amount. He also demanded central excise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l on merits. 3. Shri V. Valte, ld. SDR appearing for the Revenue pleaded that the appellants are a registered dealer and they are required to follow the obligations placed on them under Rule 57GG of the Central Excise Rules, 1944. According to Rule 57GG(3), the registered person is liable to maintain RG-23D register at the end of day of receipt and issue of excisable goods correctly in the manner required under Central Excise Rules. Since the appellants were not keeping the correct records of the goods received and issued by them, the penalty was correctly imposed on the appellants. The goods which were found unaccounted for were also correctly held to be liable for confiscation. Since the seized goods were released provisionally under bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -. However, if the appellant fails to produce the goods for confiscation, then it would be considered that they have opted to redeem the same on payment of Rs. 50,000/- and they shall pay this amount in lieu of confiscation. Thus, I find that prima facie both the authorities have held that the goods are liable for confiscation and since these goods were released provisionally on execution of a bond, therefore, a fine should be recovered from the appellant in lieu of confiscation. The Commissioner has not modified the order of the original authority as claimed by the appellants regarding the liability of confiscation of the goods. The goods released provisionally under bond are liable for confiscation and fine in lieu of confiscation was cor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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