Interim relief on stock excess-shortage adjustment led to stay of duty and penalties under a Board circular.

A Board circular governing excesses and shortages of iron and steel products was relied on to seek adjustment of a disputed shortage against excess stock. On that basis, the Tribunal treated the matter as suitable for interim relief pending final hearing and dispensed with immediate enforcement of the duty and penalties imposed. The operative effect was that recovery was stayed in favour of the appellant, and the connected stay petitions were disposed of accordingly.

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Issues: Whether, pending final hearing, duty and penalty should be dispensed with in view of the Board circular governing excesses and shortages of iron and steel products and the claimed adjustment of shortages against excesses.

Analysis: The circular relied upon prescribed a procedure for dealing with excesses and shortages noticed at stockyards or depots, and the appellant sought adjustment of the disputed shortage on that basis. The Tribunal found force in that submission and treated the matter as fit for interim relief rather than immediate enforcement of the duty and penalties imposed.

Conclusion: Duty and penalty were dispensed with in favour of the appellant, and the connected stay petitions were disposed of.

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