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2015 (3) TMI 357 - ITAT DELHIInflated cost of products claimed - excessive cost of production - by first claiming it as a part of cost of production of manufactured goods and also as raw material removed as such, shown under the head "sales" - CIT(A) deleted the addition Held that:- There is no difference between the figures of consumption of raw material as well as sales between different schedules, as referred to above. Therefore, the learned Commissioner of Income-tax (Appeals) has very rightly observed that the Assessing Officer without bringing any material on record, purely on the basis of conjectures and surmises, gave a finding which had no basis. The assessee had claimed Cenvat credit on the raw material removed as such and no Cenvat had been claimed on the sale of other manufactured goods as per the Cenvat credit rules. At page 110 of the paper book the assessee has given extract of Cenvat credit rules, in which it is pointed out that Cenvat credit may be utilised for payment of an amount equal to Cenvat credit taken on inputs if such inputs are removed as such or after being partially processed. Learned counsel also referred to various invoices to demonstrate that all the invoices contained inputs sold as such without processing, which entitled the assessee to claim Cenvat credits. We find that no discrepancy has been pointed out by the Assessing Officer in these documents filed by the assessee. The findings of the learned Commissioner of Income-tax (Appeals) have not been controverted. - Decided against revenue.
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