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2017 (3) TMI 221 - AT - Central ExciseClandestine removal - shortage of stock - Held that: - eye estimation cannot be said to be 100% accurate, but it is also observed that in the present case, the difference in the stock was substantially large and cannot be ignored. The shortage between the physical and the RG-1 stock is 67.59% in respect of Pig Iron. In the case of Pig Iron chips, it is 28.18% - the director of appellant company have deposited the amount of ₹ 6,00,000/-. Penalty on Managing Director of the appellant company - Held that: - The finding of the Commissioner (Appeals) is merely on assumptions and presumptions - No penalty could be imposed on Managing Director. Appeal disposed off - decided partly in favor of appellants.
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