TaxTMI 
TaxTMI 
2016 (8) TMI 539
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....f raw material valued at Rs. 27.10 lakhs and similarly there was excess of 52.118 M.t. of finished product valued at Rs. 16.79 lakhs. Since, according to the department the appellant's explanation for the excess stock was not satisfactory, the visiting officers being under reasonable belief that the goods being not accounted are liable for confiscation placed the excess stock of raw material and finished goods under seizure. After issue of show cause notice, the jurisdictional Assistant Commissioner vide Order-in-Original dated 18-1-2012 ordered confiscation of the entire stock of raw material as well as finished goods under Rule 25 of Central Excise Rules with option to be redeemed on payment of Rs. 9 lakhs and also with the condition the ....
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....lets and ingots, it was not possible to determine their weight even on average basis, that similarly the weighment of the finished goods and bars has also been determined by estimation, that at the time of officer's visit to the factory, as per the chart prepared, the total estimated weight of the raw material was 1341 M.T., that billets/ingots in the furnace were 60 M.T. and the billets/ingots lying at feeding stage near the furnace were 30 M.T., that the total of 1341 M.T. and 90 M.T. comes to 1431 M.T. against which the opening balance of raw material as on 25-3-2010 was 1395.56 M.T. and on that day 19.50 M.T. of raw material which had been received was yet to be entered, which would total up to 1415.06 M.T. as per the records, that this....