https://www.taxtmi.com/caselaws?id=119615 Confessional statements of the partners were treated as reliable because the alleged retraction was belated and no satisfactory reply to the show cause notice was produced, supporting an adverse inference and upholding the finding of clandestine manufacture and clearance. The assessable value still had to be reworked by allowing abatement from the sale price under Section 4(4)(d)(ii) of the Central Excise Act, 1944 and considering input duty credit, as neither had been properly granted. The duty liability was therefore required to be re-quantified, and the penalty under Rule 173Q of the Central Excise Rules, 1944 had to be reconsidered accordingly. en-us Fri, 21 Apr 2006 00:00:00 +0530 Thu, 12 Jul 2012 11:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119615 Confessional statements of the partners were treated as reliable because the alleged retraction was belated and no satisfactory reply to the show cause notice was produced, supporting an adverse inference and upholding the finding of clandestine manufacture and clearance. The assessable value still had to be reworked by allowing abatement from the sale price under Section 4(4)(d)(ii) of the Central Excise Act, 1944 and considering input duty credit, as neither had been properly granted. The duty liability was therefore required to be re-quantified, and the penalty under Rule 173Q of the Central Excise Rules, 1944 had to be reconsidered accordingly. Case-Laws Central Excise Fri, 21 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119615