https://www.taxtmi.com/caselaws?id=108838 Contemporaneous internal ISO-9002 records admitted by responsible officials as reflecting actual consumption were preferred over statutory excise records where the assessee could not satisfactorily explain discrepancies, so reversal of Modvat credit was upheld on the facts. The contention that statutory records alone must prevail, or that input-output ratios showed normal consumption, was rejected. Personal penalties under Rule 209A were not sustained because the record contained no independent evidence of the individual appellants' knowledge or culpable involvement; those penalties were set aside. en-us Tue, 28 Jan 2003 00:00:00 +0530 Wed, 04 Apr 2012 11:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108838 Contemporaneous internal ISO-9002 records admitted by responsible officials as reflecting actual consumption were preferred over statutory excise records where the assessee could not satisfactorily explain discrepancies, so reversal of Modvat credit was upheld on the facts. The contention that statutory records alone must prevail, or that input-output ratios showed normal consumption, was rejected. Personal penalties under Rule 209A were not sustained because the record contained no independent evidence of the individual appellants' knowledge or culpable involvement; those penalties were set aside. Case-Laws Central Excise Tue, 28 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108838