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2012 (7) TMI 230 - CESTAT, NEW DELHILegality of reduction of penalty leviable u/s 11AC even on proven and admitted shortage of stock - Appellate authority made contradictory approach by admitting shortage on one side and negating clandestine removal on other side - Held that:- It is clear that assessee failed to adduce evidence before the appellate authority to defend the adjudication. There was no controversy of the fact found by investigation when physical verification resulted in discrepancy in stock and more particularly, shortage of raw material. Possible inference that may arise is either the raw materials were removed as such or those must have been instrumented to make finished goods for clandestine removal. It would be proper, if the first appellate authority thoroughly re-examines the facts and evidence and come to a rationale conclusion about the veracity of the SCN - matter remanded back.
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