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2014 (11) TMI 537 - HC - Central ExcisePenalty u/s 11AC - Forged invoices produced - Excess stock found in factory - Held that:- Non-accountal of 20% of the 12 MM bars and 100% of the 16 MM bars, which could not be explained by the assessee, could not be attributed to the manufacturing loss, as in the case of integrated cement plants. The non-accountal in the absence of explanation, of such large quantity in respect of specified products, even if the quantity of such finished products, in comparison with the total production was very small, attracted the provisions of Section 11AC of the Act and Rule 25 of the Rules for proceedings of penalty and confiscation. The intention to evade payment of excise duty is to be gathered from the entirety of the circumstances. It is a finding of fact with which the High Court would not ordinarily interfere unless the finding can be assailed on the non-existence of the material available on record - Decided against assessee.
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