COMMISSIONER OF CUSTOMS, MEERUT Vs. ASHWANI KUMAR JAIN

JUDGEMENT

(1.) C.A. Nos. 3080-3081/2005: These appeals emanate from the judgment dated 18-6-2004 passed by the Customs, Excise & Service Tax Appellate Tribunal, New Delhi ("Tribunal", for short) in Appeal Nos. C/78-79/02-NB(A) whereby the appeal filed by the Respondents was allowed and the penalty imposed upon Respondent No. 1 Ashwani Kumar Jain was fixed at Rs. 1 crore. However, the penalty imposed upon Respondent No. 2 Balbir Singh Sethi was set aside by the Tribunal.

(2.) Mr. Mohan Parasaran, learned Additional Solicitor General appearing for the Appellant contends that the impugned judgment suffers from serious infirmities. He has drawn our attention to paragraph 9 of the impugned judgment wherein the Tribunal has observed as under:

(3.) Learned Additional Solicitor General submitted that the aforementioned findings of the Tribunal are untenable. He has also drawn our attention to the Show Cause Notice dated 5-1-2001 sent by the Directorate of Revenue Intelligence, I.P. Bhawan, I.P. Estate, New Delhi, the relevant portion of which reads as under: