CCE Vs. EUREKA IRON AND ENERGY (P) LTD.

JUDGEMENT

(1.) REVENUE has come in appeal against following three consequences arising out of the order appealed passed on 9.5.07 by the ld. Commissioner (Appeals) praying for setting aside the same:

(2.) LD . DR Shri Verma arguing on behalf of Department submits that the whole proceeding came out of interception made to a truck on 3.3.06 and found to have carried M.S. ingots of 36,590 MT on that day. When the department could not find any answer from the Respondent for such goods there was confiscation of 36,590 MT of MS ingots with option granted to redeem the same on payment of redemption fine. Subsequently, when on 4.3.06 the department made investigation into the factory premises of the Respondent, they found excess stock of 116.487 MT of MS ingots which is also subject matter of dispute in the present Appeal. Such an excess being found that was made liable for confiscation with imposition of redemption fine. There was nothing found by the investigating officers to prove reasons of excess by the Assessee while statement recorded from the person concerned resulted with admission of excess. Relying on the statement recorded from the Director of the Respondent Company, the Investigating team made out a case. Therefore when this admission was on record, ld. Commissioner should not have set aside the confiscation. So also, he should not have set aside the redemption fine to impose penalty in lieu of redemption fine for no such power vested on him.

(3.) THE Respondent is not in Appeal today. But ld. Counsel Shri Kurmy appearing on behalf of the Respondent opposes entire submissions of the Revenue on following counts: