9911796707
TMI Blog2008 (5) TMI 208X X X X Extracts X X X X X X X X Extracts X X X X ..... - goods cleared by them without payment of duty in the open market - raw material for the same was purchased from the local market on cash basis – huge unaccounted quantum of imported raw material was also present in factory – demand is sustainable – but revenue plea for enhancement of penalty is rejected X X X X Extracts X X X X X X X X Extracts X X X X ..... o have purchased from the open market without payment of duty. 3. Proceedings were accordingly, initiated against the assessee proposing confirmation of demand of duty of excise in respect of clandestinely cleared goods and demand of customs duty in respect of seized imported POY. Notice also proposed imposition of penalties. The said proceedings culminated into an order passed by the original ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he said raw material was procured from the open market and as such, by relying upon the precedent decision of the Tribunal, he allowed the appeal filed under Customs Act. 5. As regards the clandestine removal, Commissioner (Appeals) observed that there is sufficient corroboration to the fact of clearance of finished product, as recorded in the chit, by the statement of the director. The said stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fully explains the various entries made in the chits and clarifies that G.F. appearing in the chit belong to Gopal Fibres and the dispatch of varying amounts of final products stand made by them against various dates as recorded in the chit. Inasmuch as, as disclosed by Shri Agarwal, the transactions were made in cash including purchase of raw material from the open market, revenue cannot be expe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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