https://www.taxtmi.com/caselaws?id=54531 The court confirmed duty of Rs. 5,87,312 against M/s. Shree Extrusions Ltd. and imposed a personal penalty of Rs. 2 lakhs on the Managing Director. The penalty on the firm was reduced to Rs. 2 lakhs, and the penalty on the Managing Director was set aside. Duty confirmation was upheld for seized billets, with lower authorities tasked to quantify the amount. Duty for the balance quantity of billets was set aside due to lack of substantial evidence. The judgment addressed issues of duty confirmation, penalties, retracted statements, clandestine removal allegations, and stock discrepancies comprehensively. en-us Thu, 05 May 2005 00:00:00 +0530 Wed, 20 Oct 2010 16:08:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54531 The court confirmed duty of Rs. 5,87,312 against M/s. Shree Extrusions Ltd. and imposed a personal penalty of Rs. 2 lakhs on the Managing Director. The penalty on the firm was reduced to Rs. 2 lakhs, and the penalty on the Managing Director was set aside. Duty confirmation was upheld for seized billets, with lower authorities tasked to quantify the amount. Duty for the balance quantity of billets was set aside due to lack of substantial evidence. The judgment addressed issues of duty confirmation, penalties, retracted statements, clandestine removal allegations, and stock discrepancies comprehensively. Case-Laws Central Excise Thu, 05 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54531