https://www.taxtmi.com/caselaws?id=120236 Stock shortage and excess found during verification were held insufficient to sustain duty demand, confiscation, or penalties where the shortages were within the permissible limit for the steel industry, records were maintained on a formula basis with clearances effected by actual weighment, and no independent evidence of clandestine removal was produced. The statements recorded at the time of visit were not inculpatory. On these facts, the adjudicatory findings against the assessee could not stand, and the demand, confiscation, and penalties were set aside. en-us Fri, 15 Jul 2005 00:00:00 +0530 Tue, 17 Jul 2012 16:58:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120236 Stock shortage and excess found during verification were held insufficient to sustain duty demand, confiscation, or penalties where the shortages were within the permissible limit for the steel industry, records were maintained on a formula basis with clearances effected by actual weighment, and no independent evidence of clandestine removal was produced. The statements recorded at the time of visit were not inculpatory. On these facts, the adjudicatory findings against the assessee could not stand, and the demand, confiscation, and penalties were set aside. Case-Laws Central Excise Fri, 15 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120236