TaxTMI 
TaxTMI 
TaxTMI 
2019 (11) TMI 120
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....al Manager Commercial and Finance of M/s. Varsana Ispat Ltd. 2. On stock taking of the finished stock in appellant factory it was found that there was no stock of 12mm TMT bars whereas the daily stock account of the appellant showed 368.54 MT in the records. Sh. Deepak Arora, Manager Commercial admitted that there were shortage of TMT bars as compared to daily stock account but claimed that the said shortage is on account of the recording of the quantity manufactured without proper weighment of the same. He further pointed out that the manufacture of TMT bars had stopped since, May 2008 and hence, checking of stocks of goods on daily basis was not done, however, they paid Central Excise duty on the goods found short. Sh. Kunal Bubna notice....
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....ls 2007 (208) ELT 104 (Tri. Mum.) * Steel Authority of India Ltd. 2006 (200) ELT 229 (Tri. Bang.) * Rashtriya Ispat Nigam Ltd. 2009 (235) ELT 248 (Tri. Bang.) He also holds that there is no evidence of clandestine removal unearthed by the investigation. He also holds that since the appellants were working under Notification No. 39/2001-CE dated 31.07.2001 there could not be any intention to evade duty, as whatever duty was paid by them would have been available as refund through PLA under Notification No. 39/2001. Thus, it was held that the charge of clandestine removal is not sustainable. On this ground, he also dropped proceedings against Shri Kunal Bubna noticee No. 2. The revenue challenged the order before Commissioner (Appeals). ....
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....d Finance) both of them admitted that while there was no stock of 12mm TMT bars, the daily stock account showed 368.54 MT. However none of them admitted that there was any clandestine clearance. Both of them claimed that the said discrepancy was a result of the fact that while the when TMT bars was manufactured no actual weighment was done at the time of entering into the daily stock account. The charge of clandestine clearance has been made without any other evidence and it is a conclusion drawn solely on the basis of the discrepancy in the physical stock vis a vis daily stock account. This discrepancy needs to be appreceiated in the background of the fact that the discrepancy consist of only 0.31% of the total production during the said p....