Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2014 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (5) TMI 1011 - AT - Central ExciseCENVAT Credit - Storage loss - Held that:- total of the storage losses for the period from June 2007 to February 2009 comes to 2135 qtls., that it is this loss which had been reported to the Jurisdictional Central Excise authorities as transit loss by mistake, while it is actually storage loss - since it is 0.45% of the total quantity received, the same is within the limit of 2% storage loss prescribed as condonable by the Board - Once it is treated as storage loss, the ratio of the judgment of Division Bench of the Tribunal in the case of Jubilant Organosys Ltd. vs. CCE, Meerut - II (2004 (5) TMI 486 - CESTAT, NEW DELHI) would be applicable and the Cenvat credit in respect of such loss cannot be denied.. In any case, even if it is treated as transit loss, since the same is 0.5%, the Cenvat credit cannot be denied in view of judgment in the case of Dhampur Sugar Mills Ltd. vs. CCE, Meerut - II [2010 (12) TMI 291 - CESTAT, DELHI] which is based on judgment of Larger Bench of the Tribunal in the case of CCE, Chennai vs. Bhuwalka Steel Industries Ltd. [2009 (11) TMI 177 - CESTAT, CHENNAI (LB)]. - Decided in favour of assessee.
|