2011 (6) TMI 435

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....er M. Veeraiyan: 1. Heard both sides. 2. When the officers visited on 15.1.05 and conducted stock verification, they noticed that the stock as per books of account was 16,771.10 quintals and physical stock available was 20,271.51 quintals. The officers allowed a margin of 10% for foam formation and held that 1,415.66 quintals of molasses was in excess. The authorised signatory accepted the e....

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....d the submissions from both sides and perused the records. The weight recorded by the appellants is also apparently following the dip reading method. Therefore assailing the weight on the ground that the same was ascertained based on dip reading method is not justified. It is also noticed that the authorised signatory in his statement recorded under Section 14 clearly admitted the excess found goo....