TaxTMI 
TaxTMI 
2012 (11) TMI 1009
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.... DR, for the Respondent. ORDER The appellants are engaged in the manufacture of bars and rods. Their factory was visited by Central Excise Officers on 22-6-2009 who conducted various checks and verifications. Physical verification of the stock of steel ingots and flats tallied with the balance recorded in the daily stock account register. However, the officers found that the stock of bars an....
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....he visit of the officers. The opening balance of bars and rods as on 22-6-2009 was to the tune of 355027 kgs. whereas physical verification resulted in availability of 313769 kgs. To arrive at the shortages, the entire stock requires weighment and preparation of weighment slips. Except drawing of Panchnama, there is nothing on record to show as to how such huge quantity of bars and rods was actual....
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....semi-finished & finished goods by the reporting workers. I mainly remain at Delhi and very rarely come to the factory. As the production has been recorded in the daily stock register we now accept it as correct and as stated above shortage in finished stock is accepted. We are ready to deposit the Central Excise Duty Rs. 2,54,974/- involved on the short found quantity aforesaid. Accordingly the du....