Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2017 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (2) TMI 204 - CESTAT MUMBAIReversal of cenvat credit - Suo motu credit of the CENVAT credit - Loss of stock due to fire - Interest - Penalty - Hon'ble High Court of Karnataka in the case of Motorola India Pvt. Ltd. [2006 (7) TMI 223 - HIGH COURT OF KARNATAKA AT BANGALORE] on the issue of availment of suo motu credit held as under The Tribunal, after noticing the material facts has chosen to allow the claim on the basis that the amount paid by mistake cannot be termed as duty in the case on hand. Hon'ble High Court of Madras in the case of ICMC Corporation Ltd. [2014 (1) TMI 1473 - MADRAS HIGH COURT] on the issue of availing of suo motu credit held as under Held that:- assessee originally availed the Cenvat Credit on service tax for discharging its liability. However, for sound reasons, it reversed the credit. Strictly speaking, in this process, there is only an account entry reversal and factually there is no outflow of funds from the assessee to result in filing application under Section 11B of the Central Excise Act, 1944 claiming refund of duty. Appeal allowed.
|