2015 (11) TMI 1591

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..... xure-II in lieu bond. Nowhere in said notification, there is any mention that the LUT has to be renewed every year by the manufacturer-exporter - the instructions contained in the Excise Manual of Supplementary Instructions cannot over right the provisions of the said notification - Decided in favor of the assessee. - E/52915 & 53261/2014-E[SM] - Final Order No. 54202-54203/2015 - Dated:- 4-11-20 .....

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..... st the appellant company and penalty of ₹ 25,000/- was imposed on Sh. Ajay Chawala, the Director of the Company. In appeal, the Commissioner (Appeals) has set aside the duty demand. However, penalties imposed in the adjudication order on the appellants were upheld in the impugned order. Hence, these present appeals are before the Tribunal. 2. The Central Government vide Notification No. 4 .....

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..... ention of renewal of the LUT in the Notification dated 26.06.2001 (supra), I am of the view that the instructions contained in the Excise Manual of Supplementary Instructions cannot over right the provisions of the said notification. Therefore, I am of the considered opinion that penalties confirmed against the appellants are not correct and proper, and thus, the impugned order is set aside and th .....

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