2017 (9) TMI 1550

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....oy, Suptd.(AR) for the Respondent (s) ORDER Per: Shri P.K. Choudhary 1. The facts of the case are that on 25.03.2007, the Central Excise Officers conducted joint stock verification of MS ingots, finished products and found shortage of 97.725 MT. Shri Gajanand Sharma, Supervisor and authorized signatory of the appellant company, in his statement had agreed to the outcome of the stock verif....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... that in the facts and circumstances of the case, imposition of penalty under Section 11AC of the Central Excise Act, 1944 is not warranted. It is a case of shortage detected during stock verification. It is also submitted that the stock verification was not conducted in proper manner. The ld. Counsel relied upon various case laws in respect to the imposition of penalty under Section 11AC as under....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....thorized signatory of the appellant, in his statement, admitted the clearance of goods of shortage quantity were not recorded in the statutory records & Registers. This fact was not disputed at any point of time. Therefore, it is clearly evident that the goods in question were cleared clandestinely. Hence, the demand of duty along with interest and imposition of penalty under Section 11AC is justi....