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2022 (10) TMI 192 - CESTAT NEW DELHIClandestine Removal - MS Angles - Channels - Bars - clearance of finished goods without issuance of invoices - corroborative evidences or not - HELD THAT:- The amount of Rs. 3,01,69,127/- (Rs.2,99,35,000/- + Rs.2,34,127/-) have been accepted by the Income Tax Authority, as income from other sources (property dealing). Thus, there is no reason to treat this amount as attributable to clandestine sales of finished goods. Thus, the duty demand along with penalty of Rs. 37,28,904/- is set aside. Demand of Rs. 7,19,477/- - shortage of stock - HELD THAT:- This is corroborated by the documents resumed vide panchnama dated 10.06.2014 (being weighment slips, despatch summary dated 9/10.06.2014). Clandestine removal of shortage in stock (found in verification) is also admitted by the Accountant Mr. R. G. Choudhary, the Despatch Clerk Mr. Anuj Agarwal and the Director Mr. Rajesh Garg. Accordingly, this demand is confirmed with penalty. Appeal allowed in part.
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