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2018 (4) TMI 592 - AT - Central ExciseReversal of CENVAT credit - Revenue demanded different reversal of the CENVAT credit on the value declared in Balance Sheet after adjusting the reversal amount - Held that: - it would be apparent that the figures of closing balance of included value of traded goods. In these circumstances the figures from Balance Sheet cannot be relied to compute the value of duty paid raw material and finished goods. In absence of above figures of Balance Sheet cannot be treated as true measure of quantity of duty paid raw material on which the credit has been taken and the value of finished goods manufactured from duty paid raw material. Since there is no evidence to substantiate allegations, credit allowed. Appeal allowed - decided in favor of appellant.
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