https://www.taxtmi.com/caselaws?id=351814 Marginal stock discrepancies in finished goods, where the variation was explained as a counting error and no irregularity was found in raw materials, were treated as normal stock-taking variation rather than evidence of suppression or clandestine removal; confiscation, redemption fine and penalty were therefore unsustainable. Modvat credit on inputs could not be denied where purchase invoices, banking records, gate entries, goods receipt documents and transporter confirmations supported receipt, and the contrary reliance on a non-statutory register and unreliable statements lacked required evidentiary safeguards. The denial of credit and related penalties were accordingly set aside. en-us Wed, 18 Oct 2017 00:00:00 +0530 Sat, 02 Dec 2017 10:08:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351814 Marginal stock discrepancies in finished goods, where the variation was explained as a counting error and no irregularity was found in raw materials, were treated as normal stock-taking variation rather than evidence of suppression or clandestine removal; confiscation, redemption fine and penalty were therefore unsustainable. Modvat credit on inputs could not be denied where purchase invoices, banking records, gate entries, goods receipt documents and transporter confirmations supported receipt, and the contrary reliance on a non-statutory register and unreliable statements lacked required evidentiary safeguards. The denial of credit and related penalties were accordingly set aside. Case-Laws Central Excise Wed, 18 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351814