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TMI Blog2008 (8) TMI 739X X X X Extracts X X X X X X X X Extracts X X X X ..... for the Respondent. [Order per : P.G. Chacko, Member (J)]. The respondents in these appeals of the department were engaged in the manufacture of cotton yarn during the material period. On 6-6-98, officers of Central Excise intercepted a van (Regn. No. TN 37Q 2921) and inspected the goods, whereupon it was found that the vehicle was carrying 18 bags of 38, s carded hosiery cotton yarn on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were found in the factory premises and the same were seized under mahazar. The 18 bags of 38,s carded hosiery yarn weighing 909 kgs., detained along with the vehicle, were also seized likewise. The officers also recorded a statement from the Managing Director of the company. From the results of the investigations, it appeared to them that the respondents had indulged in clandestine removal of cott ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... latter allowed the appeal. Hence appeal No. E/875/2001 of the Revenue. The other appeal (E/95/2002) is only a duplication. 2. The lower appellate authority found no documentary evidence of clearance, without payment of duty, of a quantity of 44,492 kgs. of cotton yarn by the respondents. It held that the statement submitted by the party to their bankers inflating the stock of goods was not conc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at Rs. 6,74,500/- and 909 kgs. of cotton yarn valued at Rs. 87,264/- seized from the factory, (c) confiscation of cotton yarn valued at Rs. 2,37,500/- seized from the bank godown, (d) confiscation of the vehicle, (e) recovery of capital goods credit of Rs. 5,46,963/- and imposition of equal amount of penalty and (f) imposition of a penalty of Rs. 2,000/- on the owner of the vehicle. In respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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