9911796707
TMI Blog2008 (5) TMI 526X X X X Extracts X X X X X X X X Extracts X X X X ..... l ingots. The case of the Revenue is that during the audit, it was found that appellant has shown in the balance sheet for the year 2001-2002 and 2002-2003 income under the head other receipts regarding which appellant failed to produce any evidence. The Revenue raised demand in respect of the income which is shown under the head other receipts in the balance sheet on the ground that these amounts are attributable to the sale of SS ingots and alloy steel ingots manufactured and cleared without payment of duty by the appellant. 3. The contention of the appellant is that apart from manufacturing activity they are also engaged in the trading of goods and are registered with the Revenue authorities regarding their trading activity. The ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a was also produced before the adjudicating authority. The contention is also that no investigation was conducted from the workers of appellant regarding excess production or regarding receipt of raw material. The contention is that as the evidence shown that the appellants are having income from other activities and regarding which the evidence was produced by way of producing invoices, assessment order etc., therefore, the demand on the ground that the income from other receipts shown in the balance sheet is in respect of the manufacturing activity is not sustainable. 4. The contention of the Revenue is that the adjudicating authority held that the ledger accounts for the relevant period produced by the appellant in support of their c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spect of trading activity, we find that the copy of invoices under which goods were sold the name of customers is mentioned but no verification was conducted from their customers regarding the receipt of the goods whether the same were manufactured by the appellant or these are in respect of traded goods. The goods were also having two trucks which are used for transporting of goods on hire. We further find that there is no evidence on record to show that appellants received unaccounted raw material which are used in the manufacture of final product which cleared without payment of duty. No investigation was conducted from the employees/workers of the appellant in this regard. In these circumstances, we find that the demand on the basis tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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