TaxTMI 
TaxTMI 
2016 (9) TMI 890
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....ar, fly ash bricks, fly ash blocks was found short.The said shortages were detected by the officers and are the subject matter of the present appeal. 2. The stock measurement conducted at their factory premises also resulted in excess stock of 286.235 MT of sponge iron under belief that the said stock was meant for clandestinely removed and as such , have not been entered in the record, the same were seized by the officers. 3. Simultaneously, residential premises of Shri Praksh Chandra Mundra, General Manager were also put to search. During search of residential premises, cash amount of Rs. 4.95 lakhs along with one laptop, two pen drives , a cash book and note book were also recovered. Proceedings were recorded in panchnama dated 2.9....
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....asonable belief. The appellant also contested that they had cleared 1580.900 MT of goods on the mid-night of 2.9.2013 which factor has not been taken into account. The day s production was also not considered and as such, the excess has been incorrectly arrived at. They further submitted that there is no statement of any authorized person to the effect that such excess quantity of the final product was not entered in the record with any mala fide on the part of the assessee so as to clear the same without payment of duty. As regards the seizure of cash, the appellant contested that the same was owned by Shri Atul Prakash Mundra, son of Shri Prakash Chandra Mundra, a share broker. The show cause notice has neither been served to Shri Prak....
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....rectness of the said excess found goods and the method adopted by the visiting officers for arriving at the conclusion of excess goods, the ld. Advocate has drawn my attention to the relied upon documents where no sign of panchas appears. 8. I find that the law as regards confiscation of excess stock of goods almost stands settled. The same cannot be confiscated on the mere conclusion of non-entry of goods in the statutory documents, unless there is evidence that such stock was not entered in RG-1 register either deliberately or on the mala fide intention to remove the same clandestinely. Admittedly, in the present case, it is not the Revenue s case that the goods were in process of being removed. Apart from the fact that such stock taki....
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....ther decision of the Tribunal in the cases of C.C.E., Siliguri vs. Asha Ispat (P) Ltd. 2006 (205) ELT 324 (Tri-Kolkata) and Unique Intercontinental Ltd. vs. C.C.E., Chandigarh I. As regards the confiscation of the seized Indian currency , I find that the same was seized from the residential premises of the son of General Manager. In spite of the fact that no notice was issued to the person from whose possession the currency was seized, to confiscate the currency on the assumption that the same represents the sale proceeds of the goods cleared and sold by the manufacturing unit without there being any evidence to that effect and without there being any duty demand in respect of such clandestinely removed goods is neither proper nor justif....