Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2016 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (9) TMI 34 - AT - Central ExciseDemand and redemption fine in lieu of confiscation - duty on difference between closing stocks recorded in the Balance sheet of the year 2006-07, 2007-08 and 2008-09 with reference to the closing stock reported in the ER-1 returns - Held that:- it is found that the demand is solely based on comparison of the data of financial accounts appearing in the Balance-sheet with ER-1 returns. The appellants have contended that the stage at which the goods are recorded as finished goods in the Excise records is different from the stage at which the goods are recorded in the financial records. There is no other evidence of clandestine removal produced by the Revenue. Moreover the closing balance of one year in the financial record is appearing in the opening balance in the next financial year. In these circumstances, I find that there is no evidence whatsoever to sustain the demand of duty and redemption fine in lieu of confiscation. - Decided in favour of appellant
|