https://www.taxtmi.com/caselaws?id=82814 A glass and glassware manufacturer was not required to maintain RG 1 records varietywise where the product range was extensive and broad grouping was later accepted in trade notice practice, though proper stock accounting remained necessary. Stock verification figures were inconsistent, so the alleged shortage and excess could not be treated as finally established and required redetermination after reconciliation of the reports and the assessee's explanation. Because the factual basis for shortage, valuation, duty liability, redemption fine and penalty was unsettled, confiscatory and penal consequences could not rest on suspicion or an arbitrary computation, and the matter was remanded for fresh adjudication with hearing. en-us Wed, 06 Oct 1993 00:00:00 +0530 Thu, 07 Jul 2011 15:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82814 A glass and glassware manufacturer was not required to maintain RG 1 records varietywise where the product range was extensive and broad grouping was later accepted in trade notice practice, though proper stock accounting remained necessary. Stock verification figures were inconsistent, so the alleged shortage and excess could not be treated as finally established and required redetermination after reconciliation of the reports and the assessee's explanation. Because the factual basis for shortage, valuation, duty liability, redemption fine and penalty was unsettled, confiscatory and penal consequences could not rest on suspicion or an arbitrary computation, and the matter was remanded for fresh adjudication with hearing. Case-Laws Central Excise Wed, 06 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82814