1. The petitioner M/s.Dagger Die Cutting was started in the year 1993. It is engaged in manufacturing and selling of Leather Die Cutting Knives. The petitioner is registered as a small scale industry. It enjoys exemption in payment of excise duty. Excise duty payable on the total value of clearance was exempted to an extent of Rs.30,00,000/= for the period 1995-2000 and to the extent of Rs.50,00,000/= from 2000 onwards. The petitioner is also entitled to duty credit via modvat and cum-duty benefits. Her husband Mr.Nilanjan Deshpande has started Dagger International a Concern involved in retailing the Die Cutting Knives. The first respondent Commissioner of Central Excise, Chennai II Commissionerate issued show cause notice dated 19.5.2000 claiming duty for the period from 1995-96 to 2000-2001. The duty has been claimed for the transactions that took place during the years 1995-96. The petitioner countered the claim of excise duty in the show cause notice issued by the first respondent by giving reply to the show cause notice. The first respondent passed an order dated 10.4.2001 confirming the duty demand of Rs.47,73,201/= against the petitioner in terms of proviso to sec