https://www.taxtmi.com/caselaws?id=768012 CESTAT Kolkata held that where appellant paid central excise duty before issuance of SCN for shortages of raw materials and finished goods, penalties were not warranted under Section 11A(2B) of the Act. The tribunal upheld demands of Rs.40,445/- and Rs.18,031/- for shortages already paid by appellant but set aside penalties. Additionally, demand of Rs.1,21,936/- for transport insurance inclusion in assessable value was set aside, following precedent that profit on transport insurance is not includible in assessable value. Appeal disposed with partial relief to appellant. en-us Fri, 28 Mar 2025 00:00:00 +0530 Sat, 29 Mar 2025 08:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768012 CESTAT Kolkata held that where appellant paid central excise duty before issuance of SCN for shortages of raw materials and finished goods, penalties were not warranted under Section 11A(2B) of the Act. The tribunal upheld demands of Rs.40,445/- and Rs.18,031/- for shortages already paid by appellant but set aside penalties. Additionally, demand of Rs.1,21,936/- for transport insurance inclusion in assessable value was set aside, following precedent that profit on transport insurance is not includible in assessable value. Appeal disposed with partial relief to appellant. Case-Laws Central Excise Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768012