https://www.taxtmi.com/caselaws?id=93585 Unrebutted non-accountal of M.S. ingots in RG-1 justified confiscation and penalty because the excess stock found on inspection matched the recorded shortfall and the explanation of miscalculation was not proved. The redemption fine, however, had been imposed as a charge "towards other charges" rather than in lieu of confiscation, which was outside the scope of the governing provision and was also excessive on the facts. Confiscation and penalty were therefore sustained in principle, but the redemption fine was interfered with and reduced to Rs. 10,000, granting partial relief to the assessee. en-us Wed, 17 May 2000 00:00:00 +0530 Mon, 14 Nov 2011 15:04:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93585 Unrebutted non-accountal of M.S. ingots in RG-1 justified confiscation and penalty because the excess stock found on inspection matched the recorded shortfall and the explanation of miscalculation was not proved. The redemption fine, however, had been imposed as a charge "towards other charges" rather than in lieu of confiscation, which was outside the scope of the governing provision and was also excessive on the facts. Confiscation and penalty were therefore sustained in principle, but the redemption fine was interfered with and reduced to Rs. 10,000, granting partial relief to the assessee. Case-Laws Central Excise Wed, 17 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93585