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2009 (3) TMI 187 - AT - Central ExciseAccountal of inputs – credit - We are satisfied that when the issue was framed on the basis of the balance sheet figures, that needs to be tested since those figures were considered to be basis of charge while the statutory record under Central Excise Act, 1944 are the full proof figures. -. The balance sheet is totally a foreign material which may support the case of Revenue, if balance sheet provides credence to Revenue and that remains uncontradicted - Once he finds that the figures of the balance sheet calls for testing, he should not hesitate to make reconciliation when the assessee has brought out a clear evidence that its RG-23A Part-I record is not challenged by Revenue – Further to deny the right of credit, burden of proof lies on Revenue with cogent evidence led to show that the inputs were only gathered for mere paper credit but have not undergone consumption – further it is held that without element of law, there cannot be levy of peanlty
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