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2010 (5) TMI 225 - CESTAT, NEW DELHICenvat Credit- investigation revealed that the respondent-assessee without receiving the above goods from M/s. Bhilai Steel Plant transferred the said goods to a third party i.e. M/s. Manmeet Steels, Bhilai making entry in the record of the respondent issuing accommodation invoices in the name of M/s. Sri Sidhartha Industries, Bhilai. Accordingly the Modvat/Cenvat Credit claim was deniable when goods were not received by respondent in their factory. Held that- Commissioner (Appeals) allowed appeal making assumption and presumption that transaction made directly to ultimate buyers to save cost, without assessee proving its bonafide. Impugned order suffering from legal infirmity as no such claim made by assessee. Revenue prejudice with intent to evade duty. Revenue’s appeal allowed.
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