2012 (11) TMI 775

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..... R for the Respondent Per Archana Wadhwa: After hearing both sides, I find that the appellants who are engaged in the manufacture of MS ingots, their factory was visited by the officers on 21.8.2009. As a result of various checks and verifications, shortages in the stock of MS ingots, final products, runners and risers and scrap were noticed. Apart from that shortages in sponge iron which was one .....

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..... ; 4. After hearing learned AR and after going through the panchnama, I find force in the appellants contention. The relevant portion of the panchnama is being reproduced below for ready reference:   Further owing to huge quantity of stock of sponge iron (i.e. 387.834 MT), the officers calculated the weight of 1 cubic feet of sponge iron. Then the stock of sponge iron was evenly spread and t .....

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