2017 (4) TMI 595

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Asstt. Commissioner (AR) for the respondent Order The brief facts of the case is that during the visit of the officers, they have conducted the verification of physical stock and stock lying in books. The shortage of finished goods was 7237.90 L.Mtrs involving 12290/- and a shortage of 17945 L.Mtrs semi finished goods involving Rs. 30,471/- was found. Panchnama was drawn in the presence of S....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he semi finished goods he submits that the shrinkage was not considered and there is an acceptable norm that during the period April 2004 to May 2004 the shrinkage percentage was approx 6% whereas in the present case it contributed to 1.55% and the same should be adjusted against the shrinkage and accordingly, there will be no shortage. 3. Shri H.M. Dixit, Asstt. Commissioner (AR) appearing for....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....out on the physical stock taking by the officers for which panchnama was drawn. In the panchnama the employee of the appellant company has admitted the shortage and no dispute was raised at that time on the method of measurement. It is at the time of reply to the show-cause notice, all these defence were taken. Therefore, whatever shortage was found at the time of visit of the officers and the pan....