TMI Blog2016 (12) TMI 1048X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the fact that the appellant never raised any dispute as to the method of valuation and or estimation of stock prior to issue of Show Cause Notice, I uphold confirmation of duty but I delete the penalty retained by the ld. Commissioner (Appeals) as there is no contumacious conduct or suppression found by Revenue on the part of appellant - Appeal partly allowed. - E/70407/2016-EX[SM] With COD A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ock of M.S. Ingots is concerned against book record of 187.970 MT, stock physically ascertained was 138.285 MT which was ascertained by multiplying 131 number of pieces of Ingots by average weight of 105 Kgs. That the difference of 49.685 MT was worked and out valued at ₹ 11,92,440/- (@ 24 thousand per MT). The Authorized person, present in the factory premises, Mr. Vipin Choudhary, Accounta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n absence of any reply being filed and the proposed demand was confirmed with appropriation and equal amount of penalty was imposed under Rule 25 of Central Excise Rules, 2002 read with Section 11AC of Central Excise Act, 1944. Being aggrieved the appellant preferred appeal before ld. Commissioner (Appeals) who vide the impugned order have been pleased to confirm the demand of duty but have reduce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hod of stocktaking and/or the calculation made on the date of inspection. Accordingly, he prays for dismissing the appeal. 5. Having considered the rival contentions, I am satisfied that the stocktaking exercise by Revenue is by way of estimation, and possibility of errors cannot be ruled out. Further, I find that no instance of clandestine removal have been found by the Revenue. Considering t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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