2009 (5) TMI 782

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..... er : T.K. Jayaraman, Member (T)]. -  In terms of the impugned order, the total demand comes to Rs. 3,45,89,878/-. Penalty of Rs. 5,05,000/- has also been imposed under Section 112A. 2. We heard both sides. The appellant is a PSU and a Govt. of Karnataka PSU engaged in the manufacture and export of granite products. It is seen that for the period from 1986-1994 there was shortfall of 5% .....

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..... have been demanded. That is not the case here. The appellants in the present case, could not use some of the consumables imported/procured. It is seen that according to the appellants the entire liability could be only Rs. 4,53,000/- Revenue has already encashed BG for Rs. 16.5 lakhs. In such circumstances, we are of the view that the amount already encashed by the revenue is sufficient for heari .....

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