TMI Blog2005 (6) TMI 469X X X X Extracts X X X X X X X X Extracts X X X X ..... rector Shri Krishan Bindal and recovered an amount of Rs. 11,00,000/- that was seized on the reasonable belief that which is liable for confiscation as it relates to the clearance of Excisable goods without payment of duty. The certain documents were also recovered from the premises of the Director Shri Krishan Bindal, which shows the receipt of raw material and physical stock available on the particular day. The comparison of the stock of raw material as recorded in the statutory record with the documents recovered from the Director shows that during the period 1-4-99 to 31-8-99 the appellants did not count for 1719.535 MT of raw material i.e., H.R. Coils. The document recovered from the premises of the Director also contains details of fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o consideration and inputs received on 1-9-99 was not taken into consideration. The contention of the appellants is also that the Director Shri Bindal in his statement specifically mentioned that the quantity mentioned in the loose slips is on approximate basis. 5. In respect of the entry made in the private record regarding finished goods, the contention of the appellants is that they had cleared all the goods mentioned in the loose slips on payment of duty and only difference is that goods were cleared to the other customers than the customers whose name is mentioned in the loose slips. The appellants produced the details of the duty paying documents showing the clearance of the goods on payment of duty, which were mentioned, in the loo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s raw material received in the factory is used in the manufacture of final product which not mentioned in the statutory record and cleared without payment of duty. In respect of the currency recovered from the premises of the Director, the contention of the Revenue is that at the time of visit, the appellants failed to show the source of this currency, therefore, it is rightly confiscated. 9. We find in this case certain loose slips were recovered from the Director of the Firm. The quantity of inputs mentioned in the loose slips when it compared with the statutory record, it was found that appellants received certain excess quantity of inputs. The quantity mentioned in the slips and the quantity mentioned in the statutory record is as und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ual position during the course of arguments. The contention of the Revenue even after accepting this factual position that there is still some difference in the loose slips and in the quantity of inputs mentioned in the statutory record. In this regard, we find that the Director Shri Krishan Bindal in his first statement before the Revenue authorities specifically mentioned that the entries made in the private record is only on the approximate basis and this fact is not controverted by the Revenue. Further, we find that the quantity of inputs which were issued for the manufacture of final product and which is still lying in the factory is not taken into consideration while arriving at the actual position regarding availability the actual qu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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