https://www.taxtmi.com/caselaws?id=355370 Central excise duty demand based on stock discrepancy between physical stock and RG-1 was found unsustainable where the alleged shortage was only estimated and not the result of precise weighment. The Tribunal treated the Board's 2% variation guideline as a relevant benchmark, noted that variations in other years were below that level, and accepted that the overall loss was marginal. It also relied on earlier Tribunal precedent in the assessee's own case, which recognised practical stock-accounting difficulties in a steel plant and the absence of clandestine removal. The circular on condonation of losses during annual stock taking supported the view that minor differences should not justify duty demand. en-us Thu, 21 Dec 2017 00:00:00 +0530 Wed, 14 Feb 2018 09:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355370 Central excise duty demand based on stock discrepancy between physical stock and RG-1 was found unsustainable where the alleged shortage was only estimated and not the result of precise weighment. The Tribunal treated the Board's 2% variation guideline as a relevant benchmark, noted that variations in other years were below that level, and accepted that the overall loss was marginal. It also relied on earlier Tribunal precedent in the assessee's own case, which recognised practical stock-accounting difficulties in a steel plant and the absence of clandestine removal. The circular on condonation of losses during annual stock taking supported the view that minor differences should not justify duty demand. Case-Laws Central Excise Thu, 21 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355370