NGA STEELS (P) LTD. Vs. CESTAT, CHENNAI

JUDGEMENT

(1.) The present appeal is directed against the order passed by the 1st respondent, viz., Customs, Excise & Service Tax Appellate Tribunal [2010 (252) E.L.T. 395 (Tribunal)], whereby and whereunder, the Tribunal had modified the order by imposing fine of Rs. 2,00,263.00, in lieu of confiscation of the goods.

(2.) The facts, which has culminated in the filing of this appeal, could be briefly summarised as under :-

(3.) On 27-12-2006, the officers also visited the factory premises of the appellant factory, wherein on physical verification of the stocks and accounts, excess stock was detected. Explanation in tune with the one offered by M/s. Krishna Steels was offered by the Director of the appellant factory.