2006 (4) TMI 415

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..... pondent. [Order per : Jyoti Balasundaram, Vice-President]. - The brief facts of the case are that on 4-12-98 an employee of M/s. Shantivijay Jewels Ltd. (the appellants herein) was caught at the main gate of Santacruz while attempting to take out 136.250 grams of gold. Subsequently, the stock of the appellants was verified and stock verification revealed shortage of gold to the extent of 1 .....

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..... ies below ought to have given allowance of invisible loss during the various stages of manufacture of semi-finished gold jewellery lying is stock instead of giving allowance of only 9% invisible loss on the finished gold jewellery lying in stock. We find that allowance of 9% invisible loss on finished gold jewellery is on the basis of Notification No. 177/94, dated 21-10-94 and there is no Notific .....

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