https://www.taxtmi.com/caselaws?id=177984 A demand for clandestine manufacture and clearance of MS ingots cannot be sustained on electricity consumption norms or suspected accounting entries alone. The Tribunal reiterated that such allegations require independent corroboration, including evidence of raw material procurement, transport, buyers, sale receipts, and clearance of finished goods. It also followed the view that excise authorities cannot displace audited statutory records and income-tax returns on conjecture. As the record contained no material beyond the same electricity-based inference and financial entries, the earlier ratio was applied and the demand and penalties were set aside. en-us Tue, 14 Oct 2014 00:00:00 +0530 Mon, 25 Jan 2016 10:10:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177984 A demand for clandestine manufacture and clearance of MS ingots cannot be sustained on electricity consumption norms or suspected accounting entries alone. The Tribunal reiterated that such allegations require independent corroboration, including evidence of raw material procurement, transport, buyers, sale receipts, and clearance of finished goods. It also followed the view that excise authorities cannot displace audited statutory records and income-tax returns on conjecture. As the record contained no material beyond the same electricity-based inference and financial entries, the earlier ratio was applied and the demand and penalties were set aside. Case-Laws Central Excise Tue, 14 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177984