https://www.taxtmi.com/caselaws?id=191453 Shortage of inputs on which Modvat credit had been taken justified confirmation of duty demand, even though the related duty had already been deposited. Goods found in excess but not entered in statutory records were liable to confiscation under Rule 226, though the redemption fine was reduced on the facts. The penalty on the firm under Section 11AC was also reduced in view of the deposit made and the circumstances of the case. The personal penalty on the Managing Director under Rule 209A was set aside because no specific finding showed any act or omission by him amounting to duty evasion. en-us Fri, 23 Aug 2002 00:00:00 +0530 Tue, 04 Apr 2017 18:40:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191453 Shortage of inputs on which Modvat credit had been taken justified confirmation of duty demand, even though the related duty had already been deposited. Goods found in excess but not entered in statutory records were liable to confiscation under Rule 226, though the redemption fine was reduced on the facts. The penalty on the firm under Section 11AC was also reduced in view of the deposit made and the circumstances of the case. The personal penalty on the Managing Director under Rule 209A was set aside because no specific finding showed any act or omission by him amounting to duty evasion. Case-Laws Central Excise Fri, 23 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191453