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2012 (11) TMI 518 - CESTAT, KOLKATAPenalty under Section 11AC of the Central Excise Act – alleged that shortage in physical stock of ‘inputs’ on the date of visit of the factory by the departmental officers – Held that:- Though there was a shortage of inputs noticed by the Department, but no evidence has been brought on record either from their past conduct or evidence showing any attempt to remove such ‘inputs’ from the factory without discharging/reversing Cenvat credit - penalty equivalent to the duty involved, only on account of the shortage in the physical stock of inputs noticed during the visit of the officers, cannot be upheld under Section 11AC of the Central Excise Act, 1944 - waiver of pre-deposit allowed.
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