https://www.taxtmi.com/caselaws?id=53067 Goods manufactured but not accounted for in prescribed daily stock records are liable to confiscation under excise penalty provisions, even without proof of intended clandestine removal; however, any redemption fine must remain proportionate, so the fine was reduced. Modvat credit is available only for inputs actually used in or in relation to manufacture of final products cleared on payment of duty; where short-accounted inputs were not shown to have been so used, and a mere explanation of loss in sweeping or storage was insufficient, the credit was disallowed and the denial sustained. en-us Thu, 05 Aug 2004 00:00:00 +0530 Sat, 09 Oct 2010 14:17:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53067 Goods manufactured but not accounted for in prescribed daily stock records are liable to confiscation under excise penalty provisions, even without proof of intended clandestine removal; however, any redemption fine must remain proportionate, so the fine was reduced. Modvat credit is available only for inputs actually used in or in relation to manufacture of final products cleared on payment of duty; where short-accounted inputs were not shown to have been so used, and a mere explanation of loss in sweeping or storage was insufficient, the credit was disallowed and the denial sustained. Case-Laws Central Excise Thu, 05 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53067