RULE 223A. Account of stock of goods in a factory or warehouse to be taken and balance to be struck

-As often as the Commissioner may deem it necessary or proper, the stock of excisable goods remaining in a factory, warehouse or store-room registered or approved for the storage of such goods shall be weighed, measured, counted or otherwise ascertained in the presence of the proper officer; and if the quantity so ascertained is less than the quantity which ought to be found in such premises (after taking into account receipts and deliveries, and making such allowance for waste by evaporation, or other natural causes, as the proper officer may consider reasonable, and as may be in accordance with any instructions issued by the Central Board of Excise and Customs) the owner of such goods, or if the premises be a public warehouse, the keeper thereof, shall, unless the deficiency be accounted for to the satisfaction of the proper officer be liable to pay the full amount of duty chargeable on such goods as are found deficient and also a penalty which may extend to two thousand rupees.