https://www.taxtmi.com/caselaws?id=3242 A shortage of spares and tools was treated as supporting clandestine removal where the assessee could not reconcile RG-1 entries with reliable contemporaneous records, and the duty demand was sustained on that basis. Valuation on the average price of manufactured items was upheld, but the duty rate for spares was required to be recomputed at 15% rather than the final product rate. Interest under Section 11AB was held inapplicable for a period before its introduction, so that levy was deleted. Penalty was maintained in principle because intent to evade duty was inferred, but it was substantially reduced on the facts. en-us Fri, 21 Sep 2007 00:00:00 +0530 Wed, 16 Apr 2008 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3242 A shortage of spares and tools was treated as supporting clandestine removal where the assessee could not reconcile RG-1 entries with reliable contemporaneous records, and the duty demand was sustained on that basis. Valuation on the average price of manufactured items was upheld, but the duty rate for spares was required to be recomputed at 15% rather than the final product rate. Interest under Section 11AB was held inapplicable for a period before its introduction, so that levy was deleted. Penalty was maintained in principle because intent to evade duty was inferred, but it was substantially reduced on the facts. Case-Laws Central Excise Fri, 21 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3242