2007 (8) TMI 214

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....ppeal against the order of the lower appellate authority setting aside the penalty amount. The respondents started manufacture of the impugned goods in December, 2002 and joint stock verification was done on September, 27, 2004. The shortage of 92.1 MT was detected. In addition, it .was also found that small quantity of inputs were removed as such by the respondents without reversing the credit th....

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....ents accumulated shortage over a period during which no verification was done and the duty involved in view of shortage is negligible compared to the amount of Rs. 18.99 Crores paid by the respondents. He states that the respondents had no intention whatsoever either to evade duty or mis-state and suppress any facts. I find that the submissions on behalf of the respondents are reasonable and I do ....