Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2010 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (12) TMI 175 - CESTAT, CHENNAIReverse of Cenvat credit - Closing stock of inputs and inputs contained in finished goods lying in stock, after opting to full exemption in terms of Notification No.8/2003-CE dt. 1.3.03 w.e.f. 1.4.05 - The difference arises as a result of assessees valuing the closing stock at Rs. 13,83,437/-, while the department has arrived at the value of Rs. 17,47,361 - The assessees make submissions both on merit and time-bar - Department has made out the case on the basis of assessees profit and loss account which clearly shows inclusion of sales tax and freight etc - The submission that profit and loss account is a public document and if demand is made on that basis, no suppression can be alleged, and also that the request for destruction of rejected branded goods containing inputs on which the demand has been made, is still pending with the department - Appeal is allowed by remand
|