https://www.taxtmi.com/caselaws?id=352823 Clandestine removal of cone yarn was not established because the Revenue relied mainly on third-party statements, private records and suspicion about buyers, without independent corroboration or effective cross-examination. The Tribunal held that such material, by itself, could not prove that the clearances were cone yarn rather than hank yarn, especially when the assessee produced sales tax and textile-related records supporting its case. The demand and associated penalties were therefore set aside except to the extent of the liability admitted in settlement proceedings. As the main demand failed substantially, the penalty on the Managing Director also could not survive and was vacated. en-us Wed, 20 Dec 2017 00:00:00 +0530 Sat, 17 Feb 2018 14:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352823 Clandestine removal of cone yarn was not established because the Revenue relied mainly on third-party statements, private records and suspicion about buyers, without independent corroboration or effective cross-examination. The Tribunal held that such material, by itself, could not prove that the clearances were cone yarn rather than hank yarn, especially when the assessee produced sales tax and textile-related records supporting its case. The demand and associated penalties were therefore set aside except to the extent of the liability admitted in settlement proceedings. As the main demand failed substantially, the penalty on the Managing Director also could not survive and was vacated. Case-Laws Central Excise Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352823