https://www.taxtmi.com/caselaws?id=100597 Material discrepancies in stock records, Form IV entries, and D-3 declarations can support an inference of clandestine manufacture and removal of excisable goods when the assessee offers no satisfactory explanation. On that basis, the duty demand was upheld, as the Tribunal treated the shortages and record inconsistencies as substantive evidence rather than a mere case of imperfect bookkeeping. The personal penalty was found excessive and reduced, so only partial relief was granted on quantum while the substantive demand remained confirmed. en-us Wed, 11 Jul 2001 00:00:00 +0530 Fri, 03 Feb 2012 13:15:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100597 Material discrepancies in stock records, Form IV entries, and D-3 declarations can support an inference of clandestine manufacture and removal of excisable goods when the assessee offers no satisfactory explanation. On that basis, the duty demand was upheld, as the Tribunal treated the shortages and record inconsistencies as substantive evidence rather than a mere case of imperfect bookkeeping. The personal penalty was found excessive and reduced, so only partial relief was granted on quantum while the substantive demand remained confirmed. Case-Laws Central Excise Wed, 11 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100597