https://www.taxtmi.com/caselaws?id=73257 Duty on watch components treated as rejects, destroyed or lost in assembly was not sustained where contemporaneous stores records, bin cards and related documents explained the movement of goods, and suppression was not established for extended limitation. The alleged clandestine removals to ancillary units were not finally upheld; the demand was set aside and remanded for fresh examination of statutory and private records. Confiscation of the car and certain unaccounted components was upheld because they were found without proper documents, but confiscation of the larger stock values was set aside as excessive. Penalties for failure to maintain prescribed accounts and file returns were sustained in principle but substantially reduced. en-us Sat, 25 Jul 1987 00:00:00 +0530 Mon, 30 May 2011 16:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73257 Duty on watch components treated as rejects, destroyed or lost in assembly was not sustained where contemporaneous stores records, bin cards and related documents explained the movement of goods, and suppression was not established for extended limitation. The alleged clandestine removals to ancillary units were not finally upheld; the demand was set aside and remanded for fresh examination of statutory and private records. Confiscation of the car and certain unaccounted components was upheld because they were found without proper documents, but confiscation of the larger stock values was set aside as excessive. Penalties for failure to maintain prescribed accounts and file returns were sustained in principle but substantially reduced. Case-Laws Customs Sat, 25 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73257