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2011 (7) TMI 866 - AT - Central ExciseCenvat credit in respect of input and capital goods - unaccounted excess consumption of raw materials/inputs - Clandestine removals - According to the Appellant, the cost accountant have not considered the wastage of the raw materials, and if the waste of Rs. 22.84 crores is added to the raw material consumption, cost of Rs. 368.11 crores determined by the Auditors and which does not include waste, there would not be any discrepancy - According to the Department, in view of Cost Accountant’s report, the actual consumption of inputs/raw materials used in the manufacture of the finished goods shown in the books of accounts is much less than that shown in the profit & loss account and the balance quantity of inputs has been used for manufacture of finished goods, which have not been accounted for and have been cleared without payment of duty - Decided in favor of the assessee Regarding cenvat credit demand of Rs. 2,89,12,900 - The dispute here is that while according to the Appellant, the entire credit wrongly taken was reversed during the same financial year, according to the Department, the credit to the tune of about Rs. 1.93 crores was not reversed, as after reversal, the same was taken again - While this point can be examined only at the time of regular hearing, after carefully considering the claims and counter claims of both the sides and examining the records, at this stage, it can be said that on this point, this is not a case for total waiver - Decided in favor of the assessee by way of direction to deposit Rs. 50 Lakhs
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