https://www.taxtmi.com/caselaws?id=325809 Minor stock variations in petroleum products, without evidence of clandestine removal, were treated as insufficient to sustain excise demand on alleged shortages of raw materials and finished goods. The analysis noted that temperature, density, viscosity, dip readings and weighing methods can cause marginal differences, and that duty had already been reversed where shortages were noticed and reported. It further stated that, where stock records and audit material were disclosed and there was no suppression of facts or intent to evade duty, the extended period could not be invoked and penalty under Section 11AC would not survive. The impugned order was therefore set aside on merits and limitation. en-us Thu, 11 Feb 2016 00:00:00 +0530 Mon, 13 Feb 2017 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325809 Minor stock variations in petroleum products, without evidence of clandestine removal, were treated as insufficient to sustain excise demand on alleged shortages of raw materials and finished goods. The analysis noted that temperature, density, viscosity, dip readings and weighing methods can cause marginal differences, and that duty had already been reversed where shortages were noticed and reported. It further stated that, where stock records and audit material were disclosed and there was no suppression of facts or intent to evade duty, the extended period could not be invoked and penalty under Section 11AC would not survive. The impugned order was therefore set aside on merits and limitation. Case-Laws Central Excise Thu, 11 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325809