https://www.taxtmi.com/caselaws?id=345011 Duty demand based on alleged stock shortage could not be sustained on an incomplete inventory exercise where the assessee disputed the lot-wise correlation, duplication in stock recording, and the treatment of related records. The stock shortage had been worked out on assumptions and presumptions, without properly examining the assessee's specific objections or undertaking fresh verification of the stock position. The duty demand and consequential penalty were therefore not finally upheld, and the matter was remanded to the original authority for reconsideration of the assessee's submissions and the record. en-us Tue, 28 Feb 2017 00:00:00 +0530 Wed, 05 Jul 2017 10:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345011 Duty demand based on alleged stock shortage could not be sustained on an incomplete inventory exercise where the assessee disputed the lot-wise correlation, duplication in stock recording, and the treatment of related records. The stock shortage had been worked out on assumptions and presumptions, without properly examining the assessee's specific objections or undertaking fresh verification of the stock position. The duty demand and consequential penalty were therefore not finally upheld, and the matter was remanded to the original authority for reconsideration of the assessee's submissions and the record. Case-Laws Central Excise Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345011