2009 (10) TMI 795

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..... his case, deemed Cenvat credit of Rs. 1,36,936/- which was availed by the appellant in terms of Rule 9A of Cenvat Credit Rules has been demanded with interest as applicable and the penalty equal to the amount demanded has also been imposed. 2. Learned advocate on behalf of the appellant submits that Rule 9A of Cenvat Credit Rules which provided for availment of deemed Cenvat credit on the stock o .....

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..... ground, the declaration filed by the appellant has not been accepted and the appellants have been required to show additional evidence to prove that the stock declared by them was lying in stock as on 31-3-03/1-4-03. For this purpose, in second round of litigation on a remand order by the Commissioner (Appeals), the appellants produced a copy of the income tax return but the same has been rejecte .....

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..... to facilitate the assessee to take credit if any additional quantities have been received after 31st March or the stock which could have been purchased but in transit etc. The purpose of amendment subsequently made seems to be to help the assessee but not to deny the credit of Cenvat credit lying in stock as on 31-3-03. In my opinion, if the Revenue wants to deny the credit on all the goods decla .....

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