SAIL Vs. COMMISSIONER OF C. EX., RANCHI

JUDGEMENT

(1.) HEARD both sides at length.

(2.) AFTER hearing the matter for sometime, we find that the appeal itself can be decided today. Hence, we dispense with the requirement of pre -deposit and proceed to decide the appeal.

(3.) THE Adjudicating Commissioner has confirmed the duty demand of Rs. 10,82,86,891/ - (Rupees Ten Crores Eighty Two Lakhs Eighty Six Thousand and Eight Hundred Ninety One only) against the appellants and has imposed an equal penalty on the appellants under Section 11AC of the Central Excise Act, 1944 and has also imposed a further penalty of Rs. 10.00 Lakhs (Rupees Ten Lakhs) under Rule 173Q of the Central Excise Act, 1944. The Adjudicating Commissioner has also ordered confiscation of 50769 MTs of saleable steel but has allowed redemption of the same on payment of Rs. 2.00 Crores (Rupees Two Crores).