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TMI Blog2017 (6) TMI 804X X X X Extracts X X X X X X X X Extracts X X X X ..... Penalty - Held that: - there is no material available on record for clandestine removal of the goods - The Hon’ble High Courts and the Tribunal in various decisions, held that sufficient evidence is required for clandestine removal of the goods - penalties set aside. Appeal allowed - decided partly in favor of assessee. - Ex. Appeal No.692/09 - FO/A/75205/2017 - Dated:- 7-3-2017 - Shri P. K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the demand of Central Excise duty of ₹ 85,494/- and Education Cess of ₹ 1,710.00 along with interest and imposed penalty of equal amount of duty on the shortage of finished products. It has also confirmed the CENVAT credit of ₹ 3,51,900/- and Education Cess of ₹ 7,038/- along with interest and imposed penalty of equal amount of CENVAT Credit on shortage of inputs. By the im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the lower authorities. He drew the attention of the Bench to the stock verification report dated 23.02.2005 to show that the shortage of finished goods and inputs would be 6% to 60%. He also submits that the appellant cleared the goods clandestinely without payment of duty and hence, imposition of penalty is warranted. 5. Heard both sides and perused the appeal records. 6. I find that Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stock by the officers as referred in the Affidavit. So, there is no substance in the said Affidavit. 7. Regarding the imposition of penalty, I find force in the submission of the ld.Consultant. It is seen that the Works Manager of the Appellant Company had merely accepted the shortage. It is stated that the shortage may be for various reasons. In the instant case, there is no material available ..... X X X X Extracts X X X X X X X X Extracts X X X X
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