2012 (11) TMI 775

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....e Appellants Shri Bharat Bhushan, AR for the Respondent Per Archana Wadhwa: After hearing both sides, I find that the appellants who are engaged in the manufacture of MS ingots, their factory was visited by the officers on 21.8.2009. As a result of various checks and verifications, shortages in the stock of MS ingots, final products, runners and risers and scrap were noticed. Apart from t....

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....confirmation of demand is not justified.   4. After hearing learned AR and after going through the panchnama, I find force in the appellants contention. The relevant portion of the panchnama is being reproduced below for ready reference:   Further owing to huge quantity of stock of sponge iron (i.e. 387.834 MT), the officers calculated the weight of 1 cubic feet of sponge iron. The....