https://www.taxtmi.com/caselaws?id=110594 Goods found in the factory and duly entered in the RG1 stock register, with the recorded quantity matching physical stock, could not be confiscated under Rule 226 of the Central Excise Rules, 1944. As confiscation was not justified, the penalty on the director and excise signatory under Rule 209A could not survive. The company's penalty also failed because the stock account reflected the correct quantity and there was no basis for confiscation. The CESTAT set aside the confiscation and all penalties in favour of the assessee. en-us Thu, 18 Dec 2003 00:00:00 +0530 Tue, 17 Apr 2012 16:42:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110594 Goods found in the factory and duly entered in the RG1 stock register, with the recorded quantity matching physical stock, could not be confiscated under Rule 226 of the Central Excise Rules, 1944. As confiscation was not justified, the penalty on the director and excise signatory under Rule 209A could not survive. The company's penalty also failed because the stock account reflected the correct quantity and there was no basis for confiscation. The CESTAT set aside the confiscation and all penalties in favour of the assessee. Case-Laws Central Excise Thu, 18 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110594