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2014 (8) TMI 324 - AT - Central ExciseCENVAT Credit - duty paying documents - extra copy, Xerox/photo copies - documents on the strength of which credit has been taken were not specified under Central Excise Rules, 1944 - Held that:- CENVAT Credit scheme adopted and operationalized in India is based on the Tax Credit Method which relies upon sanctity of the documents. That is why certain documents have been prescribed statutorily for availing of the credit. If those documents are not submitted, there is no vested right accruing to the assessee for taking the credit. The argument that credit can be taken even when there are procedural infraction is not acceptable for the reason that a 5 Member Bench of the Hon'ble Apex Court in the case of Hari Chand Sri Gopal - [2010 (11) TMI 13 - SUPREME COURT OF INDIA] and Indian Oil Corporation Ltd. [2013 (5) TMI 675 - SUPREME COURT OF INDIA] held that in order to claim the benefit under the law, substantial compliance is not enough and the procedures prescribed in the statute should be mandatorily followed. This ratio laid down by the Hon'ble Apex Court prevails over the case laws - Decided against assessee.
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