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2013 (7) TMI 4 - AT - Central ExciseReversal of CENVAT Credit - CERA audit officers directed the assessee to reverse the amount of CENVAT Credit - Solvents, Master-coat, M.S. Bar, Angle, Beam, HR Coils etc. - Held that:- Strong force in the contentions raised by assessee that if an assessee has correctly availed the CENVAT Credit and is directed to reverse the same by audit officers on the ground which is not examined by them, it would amount to forcibly directing the appellant to reverse the CENVAT Credit. As apparently the reversal of the amount in the RG23A Part-II register was made without any verification and on the basis of the direction of the officers who conducted the audit. Moreover, the reversal was not a conclusion of any legal process. Subsequently, when the assessee found that they were not eligible for the credit, they have promptly reversed the ineligible portion of the credit on their own. Therefore what has been done by the appellants is basically adjustment of the credit and it has no link to any transaction other than taking credit. Therefore, it is a mere adjustment and squarely covered by the decisions of Lark Wires & Infotech Ltd (2008 (7) TMI 167 - CESTAT AHMEDABAD. In favour of assessee.
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