2006 (12) TMI 23

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..... on the application for waiver of pre-deposit of penalty of Rs. 1,00,000/- imposed upon the appellant who is the director of M/s. Inox  Wares Pvt. Ltd., I found that it was possible to hear and dispose of the appeal itself at this stage and hence proceed to do so  with the consent of both sides, after waiving pre-deposit. 2.The brief facts of the case are that M/s. Inox Wares Pvt. Ltd. .....

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..... and that the records and export documents were manipulated with the intention of encashing Cenvat credit by way of claiming rebate on the export consignment. On this basis, a show cause notice dated 17-11-2004 was issued to the assessees, proposing rejection of the rebate claim, proposing reversal of Cenvat credit involved in the stock of finished goods and proposing to treat unutilised Cenvat cre .....

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..... any excisable goods which he knew or had reason to believe were liable to confiscation so as to attract the provisions of Rule 26 and it is clearly found by the authorities below that the director only manipulated the records, and did not deal in goods. Further is also to be noted that no penalty has been imposed upon the company on the ground that no case has been made out for imposition of penal .....

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