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2015 (11) TMI 1595 - CESTAT KOLKATAShortages in the physical stock of the finished goods/raw materials - imposition of penalty - Held that: - the appellant company are entitled to pay 25% of the penalty imposed under section 11AC of CEA,1944 subject to fulfilment of condition laid down there in. I also find force in the contention of the ld.Advocate that there is no direct evidence against the Director Shri Vijay Kumar Jalan, on his involvement relating to the discrepancies in the stock noticed, and no finding against him discussing his role in the said shortages in stock had been recorded by the authorities below. Accordingly, the personal penalty imposed on the Director deserves to be set aside. In view of above, the impugned Order is modified and the appellant company s appeal is partly allowed to the above extent and the appeal filed by the Director Shri Vijay Kumar Jalan is allowed. Appeals disposed off.
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