PADMAVATI IMPEX PVT. LTD. Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner has challenged an order dated 21-10-2015 passed by the Appellate Authority by which the petitioner's appeal, against the order of the adjudicating authority dated 12-2-2014, came to be rejected.

(2.) Brief facts are as under :

(3.) The adjudicating authority in the order dated 12-2-2014 observed that on 29-2-2003, the petitioner had merely made imports of the raw materials. There was nothing on the record to suggest that the manufacturing activity actually commenced. However, accepting the petitioner's contention that such activity had actually commenced, proceeded to hold that the block periods for consideration of NFE would be the financial years 2003-04 to 2007-08 and thereafter, financial years 2008-09 to 2012-13. On such basis he concluded that the petitioner had negative NFE of Rs. 55.73 lacs in the second block and imposed penalty of Rs. 5.50 lacs under Section 11(2) of the Act. He also noted that the petitioner had discontinued manufacturing activity since last couple of years and the unit had closed down. However, taking note of the petitioner's contention of a possible revival of the unit, he did take any further penal action in this respect.