https://www.taxtmi.com/caselaws?id=112874 Unexplained shortage of finished goods already reflected in statutory production records can support a finding of clandestine removal when physical verification shows missing stock and no satisfactory explanation is offered; the duty demand and related penalty are sustained on that basis. Modvat credit on scrap purchased from a ship-breaker is not admissible where the invoices are unsupported by proof of payment of the purchase price, because mere invoicing or movement of goods is insufficient for credit entitlement; denial of credit is upheld. Where clandestine removal is established from the stock shortage, penalty follows, and the appeals fail in full. en-us Fri, 30 Jan 2004 00:00:00 +0530 Wed, 02 May 2012 13:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112874 Unexplained shortage of finished goods already reflected in statutory production records can support a finding of clandestine removal when physical verification shows missing stock and no satisfactory explanation is offered; the duty demand and related penalty are sustained on that basis. Modvat credit on scrap purchased from a ship-breaker is not admissible where the invoices are unsupported by proof of payment of the purchase price, because mere invoicing or movement of goods is insufficient for credit entitlement; denial of credit is upheld. Where clandestine removal is established from the stock shortage, penalty follows, and the appeals fail in full. Case-Laws Central Excise Fri, 30 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112874