- (1.) THE factory of M/s. Flex Industries at Noida (the Assessee) was inspected by the Central Excise Department (the Department) on 19 -1 -1998.
(2.) IN the inspection, certain quantity of inputs were found short as well as certain finished goods were found in excess of the recorded stock. The Department issued a notice to the assessee for confiscation as well as penalty.
(3.) THE adjudicating officer by his order dated 24 -5 -1999 imposed a redemption fine of Rs. 3,08,000/ - and the penalty of Rs. 4,00,000/ - under Rule 173Q of the Central Excise Rules.;