https://www.taxtmi.com/caselaws?id=768341 Alleged shortage of saffron could not support duty demand, confiscation, redemption fine or related penalties where the shortage was inferred from balance-sheet data, assumptions about procurement and consumption, and no reliable physical stock verification or proper stock register was shown. The Tribunal found that this method did not establish clandestine removal, so the demand and consequential liabilities failed. For the director, however, irregular record-keeping and stock-accounting contraventions justified only a limited penalty, and the penalty was reduced to Rs. 50,000 with the balance set aside. en-us Wed, 02 Apr 2025 00:00:00 +0530 Sat, 05 Apr 2025 08:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768341 Alleged shortage of saffron could not support duty demand, confiscation, redemption fine or related penalties where the shortage was inferred from balance-sheet data, assumptions about procurement and consumption, and no reliable physical stock verification or proper stock register was shown. The Tribunal found that this method did not establish clandestine removal, so the demand and consequential liabilities failed. For the director, however, irregular record-keeping and stock-accounting contraventions justified only a limited penalty, and the penalty was reduced to Rs. 50,000 with the balance set aside. Case-Laws Customs Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768341