2019 (7) TMI 555

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..... e to non maintenance of proper records, the goods are liable for confiscation under Rule 25 of the Central Excise Rules, 2002 - the goods rightly confiscated by the authorities below. Redemption fine - penalty - HELD THAT:- The redemption fine of ₹ 6.50 lakh imposed on the goods is on the higher side, therefore, the redemption fine is reduce to ₹ 4 lakh - penalty is reduced to ͅ .....

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..... at 155.979 MT of TMT bars were not accounted for in the books of accounts and statutory records. Therefore, they were seized and a show cause notice was issued to the appellant to confiscate the seized goods and to impose penalty and redemption fine on the appellant. The matter was adjudicated. The seized goods were confiscated but allowed to be redeemed on payment of redemption fine of ₹ 6. .....

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..... TMT bars were found in excess lying in their stock without entering in the statutory records manufactured by the appellant. Therefore, due to non maintenance of proper records, the goods are liable for confiscation under Rule 25 of the Central Excise Rules, 2002. Accordingly, I hold that the goods rightly confiscated by the authorities below. 7. Further, I find that redemption fine o .....

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