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2018 (1) TMI 623 - AT - Central ExciseCENVAT credit - inputs - repair and maintenance of old Transformers - Held that: - Inasmuch as the appellants were manufacturing transformers and were availing Cenvat credit of duty paid on inputs, there could be a bonafide belief on their part that such credit is available on their activities. In the absence of any evidence to show that such availment was being carried out by the appellant with a malafide intention, penal provisions should not be invoked. Extended period of limitation - Held that: - the notice issued after limitation from the date of the audit, had to be held as barred by limitation, inasmuch as the suppression, if any came to be notice of the Revenue, when the audit were conducted - penalty also set aside. Appeal allowed in part.
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