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2018 (7) TMI 840 - AT - Central ExciseClandestine removal - shortages of scrap - closure of factory - evidences to prove clandestine activity - Penalty u/r 26 - Held that:- The demand is solely based upon the shortages detected by the officers during the course of their visits Admittedly, there is no other evidence indicating procurement of raw materials, clandestine manufacture of the goods, their transportation or identification of the buyers etc., so as to lead to the inevitable conclusion of clandestine removal - It is well settled law that the allegations of clandestine removal, cannot be upheld merely on the basis of shortages in stock - demand set aside. Penalty on the individuals - Held that:- Inasmuch as, there is no dispute about the fact of settlement of dispute by the main noticee M/s. Ashok Magnetics Pvt. Ltd., before the Settlement Commission, penalty proceedings against the other co-noticees i.e., Director and the employees, are not sustainable - penalty set aside. Appeal allowed - decided in favor of appellant.
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