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2008 (10) TMI 184 - CESTAT, NEW DELHIConfiscation of non-accounted excess stock found in the premises - quantity of finished goods not accounted for at the time of visit by the officers is quite substantial - About 190 MTs. of waste paper was found to be over and above the stock of waste papers recorded in their accounts, which according to the learned Advocate constitute only 2.7% of the total stock of waste papers. - The obligation to account for the raw materials and manufactured goods is a strict one. This is a preventive measure. Non-accountal of substantial quantity of finished goods and raw materials are admitted. The explanation offered for such excess stock found is not convincing though there are mitigating circumstances. They failed to maintain proper account and Rule 10A of Central Excise Rules, 2002 is attracted. – Confiscation upheld but redemption find the penalty reduced.
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