https://www.taxtmi.com/caselaws?id=94851 Stock variation found during a surprise inspection required fresh examination because the assessee's contemporaneous explanation and supporting statements were not properly considered before duty and penalty were confirmed. The adjudicating authority was directed to reconsider the alleged shortage and excess on remand. Duty on Chapter X inputs found short also had to be re-quantified because the valuation adopted was inconsistent with the Larger Bench precedent relied on by the assessee. The matter was therefore sent back for fresh adjudication and duty computation in accordance with the correct valuation principle and applicable precedent. en-us Wed, 05 Apr 2000 00:00:00 +0530 Mon, 05 Dec 2011 12:43:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94851 Stock variation found during a surprise inspection required fresh examination because the assessee's contemporaneous explanation and supporting statements were not properly considered before duty and penalty were confirmed. The adjudicating authority was directed to reconsider the alleged shortage and excess on remand. Duty on Chapter X inputs found short also had to be re-quantified because the valuation adopted was inconsistent with the Larger Bench precedent relied on by the assessee. The matter was therefore sent back for fresh adjudication and duty computation in accordance with the correct valuation principle and applicable precedent. Case-Laws Central Excise Wed, 05 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94851