9911796707
TMI Blog2012 (4) TMI 520X X X X Extracts X X X X X X X X Extracts X X X X ..... they noticed the following:- (i) Excess stock of Zinc Residue and Zinc Horn. (ii) Shortage of Zinc Metal on which modvat credit was taken. Show cause notice was issued to the appellant which was contested by the appellant on the ground that the excess material of Zinc residue found is nothing but WIP and WIP material cannot be taken into consideration as finished goods and further, the said WIP material was also consumed for the manufacturing of the final product in their factory premises. As regards the shortage of Zinc metal, it is submitted that the person handling the RG23 Part-I has failed to record the issues made for the purpose of production. Both the lower authorities did not agree with the contentions raised by the appellant a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heir private records being in work in progress. In support of such submission, he produces copy of the statement of stock submitted by them to their bank, with whom they have hypothecated the stock. He would draw my attention to the date of the statement i.e. 10.07.2008 and submit that the officers visited the factory premises of the appellant on 12.7.2008, which would indicate that the appellant has been declaring this stock as WIP and recorded in their private records. It is his submission that the judgment of the Tribunal in the case of CCE Mumbai vs. Shree Rubber Plast Company (P) Limited 2007 (220) ELT 279 (Tri. Mumbai) and CCE Hyderabad vs. Srinivasa Frozen Foods Limited 2010 (262) ELT 594 (Tri. Bang.) would cover the issue in their f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scation of the goods found excess in the factory premises i.e. Zinc Residue and Zinc Horn, I find strong force in the contentions raised by the learned counsel that the said goods were recorded in their private records which is evident from the fact that they have been utilizing and declaring the goods to the banks as work in progress. I find it so from the statement submitted by the learned counsel before the Tribunal as regards work in progress for the month ending 30 June 2008 and in the said statement Zinc Residue and Zinc Horn is shown as WIP to the extent they were found excess during visit of officers. If the goods are in work in progress, the same cannot be called as final products. If that be so, the goods found in excess, in my co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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