https://www.taxtmi.com/caselaws?id=51741 Stock verification conducted in the presence of responsible officers, with separate bin cards and an accepted verification method, supported acceptance of the recorded shortage in bagged calcined alumina and justified disallowance of Modvat credit and duty demand. The attempt to net off the shortage against other quantities was rejected on the facts recorded. Non-disclosure of the verifier's report to the excise department, together with the omission of the shortage from returns, constituted suppression of facts and attracted the extended limitation period. Penalty was nevertheless moderated in light of possible manufacturing wastage, while interest remained payable according to law. en-us Tue, 10 Sep 2002 00:00:00 +0530 Tue, 28 Sep 2010 09:59:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51741 Stock verification conducted in the presence of responsible officers, with separate bin cards and an accepted verification method, supported acceptance of the recorded shortage in bagged calcined alumina and justified disallowance of Modvat credit and duty demand. The attempt to net off the shortage against other quantities was rejected on the facts recorded. Non-disclosure of the verifier's report to the excise department, together with the omission of the shortage from returns, constituted suppression of facts and attracted the extended limitation period. Penalty was nevertheless moderated in light of possible manufacturing wastage, while interest remained payable according to law. Case-Laws Central Excise Tue, 10 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51741