2007 (8) TMI 141

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....se Officers visited the Appellant's factory and verified the stocks of finished goods as well as raw material. On verification of stocks of raw material, a shortage of 15MT, valued Rs. 3,15,000/-, was detected. The appellant immediately reversed the credit vide PLA entry No. 08, dated 17-7-2003. A show cause notice was issued proposing to demand of duty and penalty. The adjudicating authority appr....