Shortage in stock found during inspection - except the statement ...

Stock Shortage Found During Inspection; No Evidence of Illicit Manufacturing or Removal, Assessee Given Benefit of Doubt.

August 10, 2011

Case Laws Central Excise HC

Shortage in stock found during inspection - except the statement of the Director, there was no other evidence on record to indicate clandestine manufacture and removal of final products – benefit of doubt extended to assessee.... - HC

View Source

← Previous Next →

Shortage in stock found during inspection - except the statement ...

Stock Shortage Found During Inspection; No Evidence of Illicit Manufacturing or Removal, Assessee Given Benefit of Doubt.

August 10, 2011

Case Laws Central Excise HC

You may also like:

100% EOU - Clandestine removal - illicit clearance of imported yarn and indigenous Yarn - detection of shortages at the time of the visit of the officers - The Appellant...

Clandestine production and removal - excesses and shortages in stock - The quantum of excess and shortages determined by the exercise of stock taking is negligible in...

Clandestine Removal - shortage of stock - Since it is inherent from the very nature of estimation of stocks in steel factories that there will be variations between what...

Clandestine removal - Clinker - It is not for the respondent to show that they have not actually manufactured any final product out of this limestone found short. It is...

Clandestine removal - duty & penalty - shortages found during the physical stock carried out by the preventive Officers of the Department - shortage admitted and duty...

Loss arising from Inventory write off - disallowance of shortage in the value of inventory - shortfall in inventory - the assessee has engaged the services of a leading...

Clandestine removal - shortage of goods detected on stock taking - MS Ingots - Admissions are the best evidence and need no further proof as is the established principle...

CESTAT held that allegations of clandestine removal were unsubstantiated. The demand of Central Excise duty of Rs. 6,60,030/- and Rs. 2,07,803/- was set aside due to...

The assessee was found with excess stock of jewellery during a search operation. The Assessing Officer (AO) invoked provisions of Sections 69A and 69B, treating the...

Clandestine removal - admission of shortages without there being any admission of clandestine removal, cannot be considered to be conclusive evidence to establish the...

Assessee showed higher wastage of 13.04% on consumption of worsted yarn compared to 8.66% in previous year. AO made addition for excessive shortage and scrap value of...

Excess stock found during survey - search conducted u/s 133A - the excess stock found during search is nothing but business stock carried on by assessee which is not...

Rejection of books of accounts - difference in the opening stock as well as the closing stock - the assessee has shown excess opening stock - The AO did not care to...

The High Court quashed the orders initiating proceedings u/s 130 of the GST Act against the petitioner for excess stock found during inspection/search u/s 67. It held...

Re-determinination of value of opening stock - Addition of excess stock found during the course of survey - Once additions is made towards excess stock found during the...

Quick Updates: