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TMI Blog2017 (7) TMI 159X X X X Extracts X X X X X X X X Extracts X X X X ..... u 1. These appeals have been filed by M/s.Texplast Industries Ltd., and Shri Sukumar N Shah. The main appellant is engaged in the manufacture of plastic products. During the visit of DGCEI officers, certain shortages in the raw materials with respect to the statutory documents was found. Similarly, some shortages in the final products were also found. Consequently, a show-cause notice was issued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellants. 2.1 As regards the shortage of finished goods, learned Counsel argued that there are no corroborative evidence, except the statements of the other appellants and some employees. He argued that the entire stock taking was done on the visual appreciation and cannot be relied upon as an evidence. In these circumstances, he argued that the said demand of duty should be set aside and the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... they are not contesting the reversal of credit on that count. During the course of investigation, it was admitted that in certain circumstances, they have availed credit while sending back the raw materials. It has been argued that it was not their intention to fraud the department by not reversing the credit. It is seen that the provisions regarding the reversal of Cenvat Credit is very clear an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... above, no other conclusion can be reached except the goods have been cleared clandestinely with intention to avoid payment of duty. In these circumstances, the demand and the penalty imposed is upheld. 7. In so far as the role of the Director is concerned, it is seen from the record that while investigations were on, statement of Shri Sukumar N Shah, Managing Director was recorded wherein he per ..... X X X X Extracts X X X X X X X X Extracts X X X X
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