https://www.taxtmi.com/caselaws?id=380837 Demand and penalties based mainly on a director's retracted statement could not be sustained where the statement was unsupported by independent corroboration. The Revenue failed to prove diversion of duty-free sulphuric acid, identify any alleged purchasers, or establish that spent sulphuric acid had been procured and used in manufacture of Single Super Phosphate. Chapter X verification and AR-3 records did not support the allegation, as the records showed receipt from a sulphuric acid manufacturer and no technical material proved that SSP could be made from spent sulphuric acid. On the record, the allegations remained unproven and the demand and penalties were held unsustainable. en-us Thu, 23 May 2019 00:00:00 +0530 Thu, 30 May 2019 09:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380837 Demand and penalties based mainly on a director's retracted statement could not be sustained where the statement was unsupported by independent corroboration. The Revenue failed to prove diversion of duty-free sulphuric acid, identify any alleged purchasers, or establish that spent sulphuric acid had been procured and used in manufacture of Single Super Phosphate. Chapter X verification and AR-3 records did not support the allegation, as the records showed receipt from a sulphuric acid manufacturer and no technical material proved that SSP could be made from spent sulphuric acid. On the record, the allegations remained unproven and the demand and penalties were held unsustainable. Case-Laws Central Excise Thu, 23 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380837