2022 (1) TMI 562

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.... Shri Vinod Lukose, Superintendent (AR) for the Respondent ORDER RAMESH NAIR These appeals are directed against Order-In-Appeal dated 16.12.2018 whereby, the learned Commissioner (Appeals) upheld the confiscation of excess found stock of M.S. Ingot and consequential redemption fine of Rs. 2 Lacs however, the penalty was reduced from Rs. 35,000/- to Rs. 10,000/- on the appellant factory a....

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.... and penalty of Rs. 35,000/- on the appellant factory and penalty of Rs. 50,000/- was also imposed on the Authorized Signatory Shri D K Shrivastava. Being aggrieved by this Order-In-Original, both the appellants have filed appeal before the learned Commissioner (Appeals). The learned Commissioner (Appeals) has upheld the confiscation, redemption fine but reduced the penalties on both the appellant....

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....des and perused the records. I find that the excess stock found during the physical stock taking for which a panchnama was drawn in the presence of authorised signatory Shri D K Shrivastava. No objection was raised at the time of drawing the panchnama by Shri D K Shrivastava however, in the panchnama he submitted that the excess stock accumulated over a period of time therefore, in my view, there ....