Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2015 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (10) TMI 1634 - AT - Central ExciseWaiver of pre deposit - inputs written off fully - reversal of cenvat credit - Suppression of facts - Invocation of extended period of limitation - Held that:- The quantification of demand is based on the assumption as the department has adopted the highest rate while denying the credit which is contrary to the provisions of Rule 3(5B) of the Cenvat Credit Rules, 2004 - The provisions relating to reversal of credit on the value of inputs written off fully was introduced for the first time in the Cenvat Credit Rules, 2004 by way of insertion of Rule 3(5B) w.e.f. 11.05.2007 vide Notification No. 26/2007-CE (NT) dated 11.05.2007 and hence, the demand invoking the longer period alleging suppression of facts on the part of the applicants is not sustainable. The demand is, therefore, completely barred by limitation. - Stay granted.
|