https://www.taxtmi.com/caselaws?id=34701 Unaccounted duty-paid raw materials held by a user were not liable to confiscation merely for stock-record lapses, because they were not treated as excisable goods on those facts, and the confiscation was set aside. Finished goods not properly entered in daily stock accounts were liable to confiscation, but the redemption fine and penalty were reduced as excessive on the record. Personal penalty on the directors was not sustainable because no surviving duty demand or sufficient basis for fastening liability was shown, and it was set aside. en-us Tue, 15 Jul 2008 00:00:00 +0530 Sun, 11 Oct 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34701 Unaccounted duty-paid raw materials held by a user were not liable to confiscation merely for stock-record lapses, because they were not treated as excisable goods on those facts, and the confiscation was set aside. Finished goods not properly entered in daily stock accounts were liable to confiscation, but the redemption fine and penalty were reduced as excessive on the record. Personal penalty on the directors was not sustainable because no surviving duty demand or sufficient basis for fastening liability was shown, and it was set aside. Case-Laws Central Excise Tue, 15 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34701