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M/s. National Engineering Indus. Ltd. Versus Commissioner of Central Excise, Jaipur And (Vice-Versa)

2017 (11) TMI 754 - CESTAT NEW DELHI

Adjustment of shortage of raw material and finished goods against excess found during stock taking - reversal of CENVAT credit - Held that: - identical issue has came up before the Tribunal in appellants own case for the earlier period M/s National Engineering Industries Ltd Versus Commissioner of Central Excise, Jaipur-I And Vica-Versa [2015 (10) TMI 1555 - CESTAT NEW DELHI], where it was held that While the whole discrepancy in physical stock has come to light only as per the stock taking cond .....

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2687 of 2015 - A/56959-56960/2017-EX[DB] - Dated:- 4-10-2017 - Mr. (Dr.) Satish Chandra, President Versus Mr. V. Padmanabhan, Member (Technical) Shri Hemant Bajaj, Advocate for the Appellants Shri H C Saini, AR for the Respondent ORDER Per: (Dr.) Satish Chandra The present appeal is filed against Order-in-Original No.100-14-15 dated 31.03.2015. Period of dispute is 2008-2013. 2. The brief facts of the case are that the assessee as well as the Revenue are in appeal against the impugned order of C .....

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course of such verification, they found certain shortages and certain excesses in respect of various inputs as well as finished goods. 3. Based on the report of the assessee s auditors, the Revenue conducted certain inquiries and proceeded against them to demand reversal of credit on inputs found short and excise duty on finished goods found excess. Finally, the case was adjudicated by the Original Authority, who allowed adjustment of shortage of raw material and finished goods against excess fo .....

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bunal vide Final Order No.52490-52491/2015 dated 04.08.2015 has observed as under: 5. The admitted facts of the case are that the assessee is having computerized accounting which manages end to end operations i.e. from the set of procurement of raw material to sale of finished goods. It is also admitted fact that there are large varieties of raw materials, work-in-progress and finished products. The consumption of raw material goods which are used in process of making and the finished goods are .....

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he original proceedings have been accepted by the lower authority and he allowed the possibility of shortages and excesses in respect of various individual category of raw materials and finished goods. However, he confirmed the reversal of credit in respect of raw material found short after netting of excess with shortage among various varieties. Same method has been adopted for finished goods also. We find that the shortages and excesses found during physical stock verification which remained u .....

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