https://www.taxtmi.com/caselaws?id=1864 Shortages of inputs and finished goods found on physical verification sustained duty demands, because the explanations based on weighment variation and notional differences were unsupported by records. Penalties on those shortage findings were reduced. Allegations of suppressed production and clandestine removal were rejected, as the private production records were approximate, uncorroborated, and a retracted statement alone was insufficient without evidence of excess raw material, removal, or capacity. Misuse of Modvat credit remained established, but the related penalty was reduced, and the connected penalties on the companies and their directors were set aside where the substantive clandestine removal finding failed. en-us Thu, 08 Feb 2007 00:00:00 +0530 Tue, 15 Apr 2008 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1864 Shortages of inputs and finished goods found on physical verification sustained duty demands, because the explanations based on weighment variation and notional differences were unsupported by records. Penalties on those shortage findings were reduced. Allegations of suppressed production and clandestine removal were rejected, as the private production records were approximate, uncorroborated, and a retracted statement alone was insufficient without evidence of excess raw material, removal, or capacity. Misuse of Modvat credit remained established, but the related penalty was reduced, and the connected penalties on the companies and their directors were set aside where the substantive clandestine removal finding failed. Case-Laws Central Excise Thu, 08 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1864