Pokarna Updates on CESTAT appeal

Pokarna Ltd has announced that the Hon'ble CESTAT, Bangalore bench has allowed the appeal filed by the Company challenging payment of Rs 71,69,678.The Company had filed an appeal challenging the demand notice issued by the Office of the Commissioner of Customs & Central Excise, Hyderabad III, demanding payment of Rs 71,69,678/- together with the applicable interest thereon alleging that the "Epoxy Resin" used by the Company in the manufacture of polished granite slab was a "raw material" and not a "consumable" as claimed by the Company.

The Hon'ble CESTAT was pleased to reject the contention of the revenue and accordingly allowed the appeal of the Company.

Source : Equity Bulls

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