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2014 (12) TMI 738 - HC - Central ExciseShortage of goods - Penalty u/s 11AC - Whether on the facts and circumstances of the case, the Tribunal was justified in restoring the penalty - Held that:- There was a huge shortage of finished goods for which no explanation was offered by the appellant at the time of stock checking. It means that the appellant had admitted the shortage and paid the duty accordingly. Thus, the appellant was unable to give any suitable explanation for the shortage of the finished goods. This is an admission by the appellant that the goods found short had been removed without payment of the duty. The method for clandestinely removal of the goods is not required to be explained. Since, it is a case of the shortage of the finished goods for which the appellant has no explanation, so the provision of Section-11AC for levy of the penalty and Rule-26 for levy of the penalty on the authorized signatory would be attracted. - no reason to interfere with the impugned order - Decided against the assessee.
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