2017 (11) TMI 1736

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.... Shri G.R. Singh, AR, for the Respondent. ORDER The issue in this appeal is whether upon inspection, against recorded stock of 943.515 MT of CTD/TMT bars, physical stock found was of 1068.987 MT. Thus, their being excess stock of 125 MT of the finished goods, whether the appellant's excess stock have been correctly confiscated with option to redeem the goods on payment of fine of Rs. 2 lak....

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....MT. It appeared to Revenue that the excess stock of 125 MT CKD/TMT bars value at Rs. 40,26,712/- was not accounted in RG I register in contravention of Rule 10 of Central Excise Rules, 2002 with intent to clear clandestinely. It also appeared that appellant is liable to pay penalty under Section 11AC of the Act. Accordingly, it was proposed to confiscate the excess found finished goods along with ....

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....tiplied with sample weight, which is clear cut case of eye estimation. Further, I find that no other adverse material was found against the appellant nor any attempted clandestine removal was found although other records of the appellants, as listed in panchnama (Annexure-A), about 58 account books and registers were seized. In such manner, of stock taking by way of estimation, I hold that variati....