https://www.taxtmi.com/caselaws?id=335790 Excess unaccounted goods found during stock verification may be confiscated where the assessee offers no satisfactory explanation for the non-accountal, and later reliance on mixed stacking of different varieties does not excuse the accounting lapse. Redemption fine is to be assessed by reference to the value of the goods at the time of confiscation, not their later condition when sought to be released. Penalties on both the company and its managing director may also be sustained where the record shows contravention of the applicable excise law and rules, and the quantum is treated as commensurate with the breach. en-us Fri, 14 Oct 2016 00:00:00 +0530 Fri, 09 Feb 2018 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335790 Excess unaccounted goods found during stock verification may be confiscated where the assessee offers no satisfactory explanation for the non-accountal, and later reliance on mixed stacking of different varieties does not excuse the accounting lapse. Redemption fine is to be assessed by reference to the value of the goods at the time of confiscation, not their later condition when sought to be released. Penalties on both the company and its managing director may also be sustained where the record shows contravention of the applicable excise law and rules, and the quantum is treated as commensurate with the breach. Case-Laws Central Excise Fri, 14 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335790