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2014 (6) TMI 488 - AT - Central ExciseCENVAT Credit - Penalty u/s 11AC - Held that:- demand to be barred by limitation. The credit was availed by duly reflecting the same in the Central Excise records, in the month of June 2004, whereas the show cause notice stand issued on 15.05.2009. The assessee who availed credit on the basis of proper invoice issued by registered dealer, & cannot go beyond the registered dealer to find out as to whether the credit availed by them is proper or not. As per law, he is required to recognize his immediate supplier of the goods. In such a scenario, no suppression or mis-statement can be attributed to the appellants. Accordingly, I hold the demand to be barred by limitation - Decided in favour of assessee.
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