https://www.taxtmi.com/caselaws?id=233987 The case involved a dispute over shortages of raw materials found during physical verification. The Tribunal partially allowed the appeal, confirming the shortages but rejecting penalties under Section 11AC of the Central Excise Act. It was held that penalties were not applicable for the period when the offense occurred, as Section 11AC was introduced after the incident in 1995. The judgment addressed the issues of shortages and the appellant's argument of notional shortage due to processing losses, providing detailed reasoning for the decision. en-us Mon, 18 Feb 2013 00:00:00 +0530 Fri, 24 May 2013 08:45:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233987 The case involved a dispute over shortages of raw materials found during physical verification. The Tribunal partially allowed the appeal, confirming the shortages but rejecting penalties under Section 11AC of the Central Excise Act. It was held that penalties were not applicable for the period when the offense occurred, as Section 11AC was introduced after the incident in 1995. The judgment addressed the issues of shortages and the appellant's argument of notional shortage due to processing losses, providing detailed reasoning for the decision. Case-Laws Central Excise Mon, 18 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233987