TaxTMI 
TaxTMI 
2012 (2) TMI 436
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....ndent. ORDER Heard both sides. The appellant filed this file against the impugned order passed by Commissioner (Appeals) whereby the Commissioner (Appeals) upheld the demand of duty of Rs. 2,47,446/-, interest and equal amount of penalty. The Commissioner (Appeals) also upheld the confiscation of cash amount of Rs. 8,30,000/- recovered from the residential premises of Managing Director. The appe....
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....re found short were used in the manufacture of finished goods and cleared without payment of duty. Part of the demand is also in respect of finished goods which were found short. 3. The contention of the appellants is that no physical weighment of stock of raw materials and finished goods were conducted. The shortage is accounted by counting the goods size wise and by taking the average unit....
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....hs is also not sustainable on the ground that there was no evidence on record to show that the same was sale proceeds of the clandestinely removed goods. There was no admission on the part of the Managing Director. In view of this, the impugned order is not sustainable. 5. The contention of Revenue is that weighment was conducted in the presence of the authorized signatory. The revenue also ....