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2012 (4) TMI 388 - CESTAT, AHMEDABADSearch at factory premises of the appellant – shortages of finished goods noticed – levy of demand and interest with equivalent amount of penalty u/s 11AC r.w.r. 25 of Central Excise Rules, 2002 and penalty on the partner of the assessee – Held that: - Invoices issued by appellant were for CTD bars of various sizes and dimensions recorded in RG-1 during the period in question - daily stock account maintained during this period the opening stock indicated 585.293 MTs which is the closing balance of stock of the finished goods on the date of visit of the officers to premises - if the appellant had taken the opening stock as the same as was on the date of visit of the officers and had cleared finished goods on payment of appropriate duty, it cannot be said that the duty liability arises - there cannot be demand of duty on the same product, one by adjudication order and another by way of discharge of appropriate duty by preparing duty paying invoices - set aside the duty liability, interest and penalty on the said amount. Shortage of waste & scrap – Held that: - the appellant has not produced any evidence for clearances of said waste & scrap subsequently on discharge of appropriate duty – uphold the demand along with interest - the appellant is liable to be penalized under Section 11AC to the equivalent amount can discharge an amount of 25% as penalty, provided he discharges entire duty liability along with interest and 25% of the duty amount as penalty within 30 days from the receipt of order. Penalty imposed on the partner – Held that: - the penalty imposed on the partner is reduced from Rs.1, 50,000/- to Rs.25, 000/-
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