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2018 (7) TMI 911 - AT - Central ExciseCENVAT/MODVAT Credit - inputs lying in stock - transitional provisions - denial of credit also on the ground of endorsed duty paying documents - Held that:- The denial of credit, merely for the reason of the duty paying documents being endorsed, would defeat the purpose of the statute in extending the intended Modvat Credit relief, and, therefore, denial of credit should not be on that ground alone, but only on finding, upon verification that the consignment in question had not discharged the duty claimed as Modvat Credit - This issue has also been clarified by Board vide Circular No.441/7/99-Cx dated 23.02.1999. Since the Tribunal vide its earlier order had allowed transitional benefit in respect of goods lying in stock as on 01.03.1994, and in view of the settled legal position, the adjudicating authority cannot readjudicate the issues which had already attained finality. Appeal allowed - decided in favor of appellant.
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