2012 (6) TMI 72

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....ellant   Ms. Sukritit Das, Advocate for the Respondent   Per Ms. Archana Wadhwa:   As per facts on records, the appellants are engaged in the manufacture of MS Ingots, Sponge Iron & MS Scrap falling under Chapter 72 of the Central Excise Tariff Act, 1985. Their factory was visited by jurisdictional Central Excise officers on 17.06.04. As a result, stock of 152.440 MT of fin....

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....ers. The appellant have vehemently contested the fact of shortage on the ground that the stock verification was conducted on the basis of eye estimation. The officers had to conduct stock verification of MS Ingots on actual weight system which was not done as evident from Panchnama. The investigation report was prepared by the officers who also concluded that appellants have cleared their final pr....

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....e proved by sufficient corroborative evidences. The confirmation of demand on the allegation of clandestine removal based upon the shortages only cannot be said to be in accordance with the precedent decisions.   6. At this stage, I refer to Tribunal s decision in the case of IP Industries reported in 2007(218)ELT242, laying down that in the absence of sufficient corroborative evidences li....