SATVIK INDUSTRIES Vs. COMMISSIONER OF CENTRAL EXCISE

JUDGEMENT

(1.) Having heard learned counsel for the parties in this appeal under Section 35 G of the Central Excise Act, 1944, which is directed against the order dated 14th February, 2012 passed by the Customs, Excise and Service Tax Appellate Tribunal, we frame the following substantial question of law:-

(2.) We have heard the learned counsel for the parties on the aforesaid question of law and proceed to dictate our decision.

(3.) The appellant herein has suffered an order-in-original dated 29th October, 2009 imposing penalty of Rs.1,06,01,497/-. The allegation against the appellant is that he had shown fictitious input credit and had passed on credit to the purchasers, without actual production and sales. The appellant, it is claimed, in fact was not manufacturing PVC insulated wires, winding wire of copper and non-adhesive tapes.