ORDER

1. These appeals are directed against Final Order No. A/141-144/WZB/2005/CI dated 17-2-2005 in Appeal No. E/55-58/00-MUM passed by the Customs, Excise and Service Tax Appellate Tribunal, West Zonal Bench at Mumbai (for short "the Tribunal") wherein and whereby the Tribunal while accepting the appeals filed by the respondent assessees, set aside the order passed by the Commissioner of Central Excise confirming the duty demand of Rs. 93,98,607 against the assessee and imposing a penalty of Rs.40 lakhs in terms of Rule 173-Q of the Central Excise Rules, 1944 (for short "the Rules") for the period from 1-4-1993 to 2-7-1996 and Rs.54,01,636 under Section 11-AC of the Act for the period from 28-9-1996 to 31-3-1998 and penalties of Rs.2 lakhs, Rs.1 lakh and Rs.50,000 on the Managing Director, Chief Executive and Authorised Signatory respectively of the assessee. The Commissioner confirmed the demand by classifying the product "Bitufelt Type III Grade I" under Chapter Heading 68.07 of the Schedule to the Central Excise and Tariff Act, 1985 (for short "the Tariff Act"), and rejecting the claim of the assessee for classification under Chapter Heading 59.09 read with Notifications Nos. 5