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TMI Blog2024 (6) TMI 299X X X X Extracts X X X X X X X X Extracts X X X X ..... MEMBER ( JUDICIAL ) Mr. N. K. Chowdhury , Advocate for Appellant Mr. B. K. Singh , Authorized Representative for the Respondent ORDER PER R. MURALIDHAR : The Appellant is manufacturer of M. S. Billets and TMT Bars. On 24/11/2015, the Department officials visited the factory premises and took up the physical stock verification. They found that there was shortage of 100.400 MT of M. S. Bil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,46,438/- in terms of Section 11AC giving an option to pay 25% of the same within 30 days of the date of receipt of the Order. He also imposed a penalty of Rs. 2,00,000/- on the Director of the company. Being aggrieved, the Appellants filed their Appeals before the Commissioner (Appeals) who has dismissed their Appeals. Being aggrieved, the Appellant is before the Tribunal. 2. The Learned Couns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to crores, such small errors in stocks cannot result in the Director being made responsible for fastening the penalty. He prays that the penalty imposed on the Company and Director may be set aside. 4. The Learned AR reiterates the findings of the lower authorities and justifies the confirmed demand, interest and penalties. 5. Heard both sides and perused the Appeal Papers and relevant documents ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the option to pay the penalty @ 25% of 3,46,438/-. They should pay the revised penalty amount by 31st July 2024. 8. The Department has not made out any specific case against the Director to implicate him for the shortages found. As can be seen from the recorded statement of Mr. Subrata Goswami, it is seen that he is taking care of day to day activities of the company. Therefore, I find no justifi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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