https://www.taxtmi.com/caselaws?id=341625 Demand and penalty arising from shortage found during physical stock verification were sustained because the shortage was recorded in the panchnama in the presence of the appellant's employee, who accepted it. No contemporaneous objection was raised to the mode of measurement or to any need for shrinkage adjustment, and no immediate retraction followed. The later defence taken in reply to the show-cause notice was treated as an afterthought. The findings of the lower authorities were found and no infirmity was identified in their appreciation of the evidence. en-us Fri, 24 Feb 2017 00:00:00 +0530 Fri, 09 Feb 2018 11:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341625 Demand and penalty arising from shortage found during physical stock verification were sustained because the shortage was recorded in the panchnama in the presence of the appellant's employee, who accepted it. No contemporaneous objection was raised to the mode of measurement or to any need for shrinkage adjustment, and no immediate retraction followed. The later defence taken in reply to the show-cause notice was treated as an afterthought. The findings of the lower authorities were found and no infirmity was identified in their appreciation of the evidence. Case-Laws Central Excise Fri, 24 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341625