https://www.taxtmi.com/caselaws?id=254395 Unexplained shortage of finished goods found on stock verification was treated as indicating removal without payment of duty, bringing penalty under Section 11AC of the Central Excise Act, 1944 into play. Subsequent payment of duty after detection did not displace the penalty basis on the facts recorded, and the provisions relating to short levy and payment before notice were treated as inapplicable to erase the established liability. The commentary therefore presents Section 11AC penalty as sustainable where shortage remains unexplained and the assessee offers no satisfactory account at inspection. en-us Fri, 05 Dec 2014 00:00:00 +0530 Wed, 17 Jun 2015 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254395 Unexplained shortage of finished goods found on stock verification was treated as indicating removal without payment of duty, bringing penalty under Section 11AC of the Central Excise Act, 1944 into play. Subsequent payment of duty after detection did not displace the penalty basis on the facts recorded, and the provisions relating to short levy and payment before notice were treated as inapplicable to erase the established liability. The commentary therefore presents Section 11AC penalty as sustainable where shortage remains unexplained and the assessee offers no satisfactory account at inspection. Case-Laws Central Excise Fri, 05 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254395