https://www.taxtmi.com/caselaws?id=51776 Unaccounted video cassettes found in factory premises, together with admitted clandestine clearances, justified confiscation and penalty because the circumstances supported an intent to remove goods without duty payment; however, the redemption fine and personal penalty were reduced. Modvat reversal on short-found magnetic video tapes could not exceed the credit actually taken on the inputs, so the demand beyond that amount was set aside. Disallowance of credit on admitted shortages of plastic moulded components and other inputs was upheld. A dealer demand earlier dropped and left unchallenged could not be revived and confirmed again after remand, so that demand was deleted. en-us Tue, 24 Dec 2002 00:00:00 +0530 Tue, 28 Sep 2010 11:40:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51776 Unaccounted video cassettes found in factory premises, together with admitted clandestine clearances, justified confiscation and penalty because the circumstances supported an intent to remove goods without duty payment; however, the redemption fine and personal penalty were reduced. Modvat reversal on short-found magnetic video tapes could not exceed the credit actually taken on the inputs, so the demand beyond that amount was set aside. Disallowance of credit on admitted shortages of plastic moulded components and other inputs was upheld. A dealer demand earlier dropped and left unchallenged could not be revived and confirmed again after remand, so that demand was deleted. Case-Laws Central Excise Tue, 24 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51776