https://www.taxtmi.com/caselaws?id=31612 Clandestine removal of finished goods was treated as sustainable where corroborative circumstantial evidence supported the allegation, including a recovered chit, an un-retracted statement of the director, and unaccounted raw material. The absence of a plausible explanation for the entries and the cash-based nature of the transactions weighed against the assessee. On penalty, a reduction to about 25% of the duty amount was found adequate, and no basis was seen to enhance it. The demand and reduced penalties were therefore maintained, with both appeals rejected. en-us Thu, 29 May 2008 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31612 Clandestine removal of finished goods was treated as sustainable where corroborative circumstantial evidence supported the allegation, including a recovered chit, an un-retracted statement of the director, and unaccounted raw material. The absence of a plausible explanation for the entries and the cash-based nature of the transactions weighed against the assessee. On penalty, a reduction to about 25% of the duty amount was found adequate, and no basis was seen to enhance it. The demand and reduced penalties were therefore maintained, with both appeals rejected. Case-Laws Central Excise Thu, 29 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31612