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2013 (8) TMI 27 - HC - Central ExciseFictitious purchase - Modvat credit - No manufacturing activity started - Caveat emptor - Held that:- Once it is held and established that no manufacturing activity was indulged and undertaken by M/s Kejriwal Enterprises and M/s Priyanka Metals, then the alleged supplies and Modvat credit claim have to be rejected - The maxim caveat emptor is clearly applicable to a case of this nature - It was for the buyer to establish that he had no knowledge about the genuineness or otherwise of the SIL in question - Following decision of Commissioner of Customs versus A.A. Float Textiles (I) P. Ltd. [2009 (2) TMI 75 - SUPREME COURT] - Decided against assessee.
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