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2012 (10) TMI 166 - CESTAT, NEW DELHIClandestine removal - denial of CENVAT Credit - Held that:- As regards the statement of Managing Director, the appellant have taken a categorical stand that Managing Director was around 75 years old and was not keeping good health, the proceedings lasted till 11 hours in the evening and on being told that there was shortages of raw materials, he simplicitor agreed to debit the duty. Learned advocate submits that such statement cannot be held to be of any evidentiary value, in the absence of any evidence to reflect upon the clandestine clearance of raw materials. As no evidence on record indicating any removal of raw materials by the appellant, or their use in the manufacture of final product which does not stand reflected in the statutory records, thus admission of shortages without there being any admission of clandestine removal, cannot be considered to be conclusive evidence to establish the guilt of the assessee - in favour of assessee.
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