2014 (1) TMI 215

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..... - some shortages were noticed in the physical stock during the joint verification exercise carried on 06.12.2007 - the actual shortage or otherwise could be determined only at the time of disposal of the Appeal by analysing the evidences adduced by both sides – Assessee directed to deposit Rupees Twenty Five Lakhs as pre-deposit – upon such submission rest of the duty to be stayed till the dispo .....

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..... rs on 06.12.2007, on a joint physical verification of stocks, some discrepancies were noticed in the physical stock of the finished goods against the balance shown in DSA. On the basis of the same the department later issued a show cause notice not on the basis of shortages noticed on the date of visit, but took the stock verification report of the Income Tax authorities conducted on 20.09.2007 le .....

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..... ncome Tax authority on 20.09.2007. Prima facie, we do not find any sound basis as to how the stock position as on 20.09.2007 could be adopted by the department. However, it cannot be denied that some shortages were noticed in the physical stock during the joint verification exercise carried on 06.12.2007 even though it is disputed by the Ld. Sr. Advocate for the Appellants. At this stage, we are o .....

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