TMI Blog2022 (1) TMI 562X X X X Extracts X X X X X X X X Extracts X X X X ..... astava. No objection was raised at the time of drawing the panchnama by Shri D K Shrivastava however, in the panchnama he submitted that the excess stock accumulated over a period of time therefore, in my view, there is no dispute about the excess stock found. However, no mala fide intention can be attributed to the appellant such has any attempt to clear the goods clandestinely but in terms of Ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R. RAMESH NAIR None appeared for the Appellant Shri Vinod Lukose, Superintendent (AR) for the Respondent ORDER RAMESH NAIR These appeals are directed against Order-In-Appeal dated 16.12.2018 whereby, the learned Commissioner (Appeals) upheld the confiscation of excess found stock of M.S. Ingot and consequential redemption fine of ₹ 2 Lacs however, the penalty was re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice confiscated the excess found stock and imposed redemption fine of ₹ 2 Lacs and penalty of ₹ 35,000/- on the appellant factory and penalty of ₹ 50,000/- was also imposed on the Authorized Signatory Shri D K Shrivastava. Being aggrieved by this Order-In-Original, both the appellants have filed appeal before the learned Commissioner (Appeals). The learned Commissioner (Appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the lower authorities. 04. I have carefully considered the submissions made by both the sides and perused the records. I find that the excess stock found during the physical stock taking for which a panchnama was drawn in the presence of authorised signatory Shri D K Shrivastava. No objection was raised at the time of drawing the panchnama by Shri D K Shrivastava however, in the panchnama he s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to ₹ 1 Lacs. However, the penalty imposed on the appellant factory i.e. ₹ 10,000/- is reasonable hence the same is upheld. 4.2 As I observed above, that there is no mala fide intention or there is no attempt to clear the excess stock clandestinely, the co-appellant Shri D K Shrivastava cannot be imposed with any penalty accordingly, I set aside the penalty imposed on Shri D K Shriva ..... X X X X Extracts X X X X X X X X Extracts X X X X
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