2016 (9) TMI 34

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..... solely based on comparison of the data of financial accounts appearing in the Balance-sheet with ER-1 returns. The appellants have contended that the stage at which the goods are recorded as finished goods in the Excise records is different from the stage at which the goods are recorded in the financial records. There is no other evidence of clandestine removal produced by the Revenue. Moreover t .....

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..... recorded in the Balance sheet of the year 2006-07, 2007-08 and 2008-09 with reference to the closing stock reported in the ER-1 returns. The demand of duty on such quantity of finished goods shown to be lying in the balance in the Balance-sheet whereas the ER-1 returns shown Nil balance. 2. Learned Counsel for the appellant argued that the demand has been confirmed by comparing the closing b .....

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..... such circumstances, demand cannot be confirmed. He further argued that goods have been ordered to be confiscated and redemption fine of ₹ 1,50,000/- has been imposed in lieu of confiscation. He argued that no goods have been seized and therefore, there cannot be a confiscation. 3. Learned AR relied on the impugned order. 4. I have gone through the rival submissions. I find that the .....

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