1977 (4) TMI 167

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....Assistant Collector below. In short it may be stated that the appellants admit that there were excesses and shortage in the raw materials as verified and as recorded but they were due to the dealing Clerk being on leave. The record in Form IV (Raw Material Account) was not maintained after 30-6-1975 but the balance was worked out with the help of Party's stock register and even then excesses and s....

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....ial account in Form IV was incomplete, their book balance was worked out on the basis of their own stock Register showing receipt and issues after 30-6-1975 and this recorded balance was not found to tally with the balance as verified. Their plea that Stearic Acid absorbed moisture and therefore exhibited an excess is not plausible firstly because the chemical is not normally kept open to atmosphe....