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2012 (11) TMI 683 - CESTAT, NEW DELHIEnhancement of penalty - Shortage of stock – penalty u/r 25 - Held that:- So far as shortage of stock is concerned the authority has found that there was no cogent evidence before him to appreciate that the shortage has been rightly worked out mathematically. Estimation is not substitute to the mathematical precision when method of inventory taken is challengeable. - There was no circumstantial evidence to appreciate imposition of penalty along with confiscation. Penalty u/r 10 - When the appellate authority found, that there was controversy and Rule 10 deals with unaccountal of the stock on daily basis he levied penalty of Rs. 50,000/-. The cumulative effect of the shortage and excess stock is quite possible to flow from unaccountal of stock on daily basis - appellate authority went to the root of the matter to penalize to the extent of Rs. 50,000/-. That appears to be proper and that is confirmed - Revenue’s appeal is dismissed.
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