2011 (6) TMI 435

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....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 excess stock. The value of excess stock was a....

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....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 goods on the date of visit by the officer. The statem....