2004 (3) TMI 521

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.....S. Bhagat, SDR, for the Respondent. [Order]. -  Heard both sides. During stock taking conducted on 6-11-1998, it was found that the appellants had excess of 102.691 MT of CR GC Sheets. At the same time, shortages of 56.325 MT of CR GP Sheets, 50.686 MT of CR GP Coils and 55.630 MT of CR Coils were found. 2. As far as the shortages of 55.630 MT of CR Coils is concerned, the appe....

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....oth sides and perusal of case records, I am of the view that as far as the shortages of 55.630 of CR Coils is concerned, the appellants have not been able to explain the same satisfactorily.  Shri Kalpesh Shah, learned C.A. places reliance on Ministry's Circular No. 22/78-CX-8, dated 26-10-1979 to say that 1% shortage is allowed in; respect of Iron and Steel products.  However, it is see....