2014 (12) TMI 622

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..... Court, we are duty bound to follow this decision. As per the decision, if there is a shortage of inputs and the assessee fails to account for utilization of inputs which were found short on which the credit was claimed, then the department was right in denying the Cenvat Credit on such inputs found short. However, the Hon'ble High Court observed that the demand cannot be confirmed for the extended .....

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..... ng the ineligible Cenvat Credit availed by the appellant on the shortage of inputs notice during the physical stock takings held during the period 2008-2009 to 2012-2013 (upto October 2012) along with interest thereon. He has also imposed on equivalent amount of penalty on the appellant. Aggrieved of the same, the appellant is before us. 3. The learned Counsel for the appellant submits that the .....

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..... vat Credit for the period from 2008-2009 onwards and figures have been taken from the accounts maintained by the appellant themselves. In these circumstances, the suppression of facts by the appellant cannot be alleged at all and he relies on the decisions of this Tribunal in the case of Maruti Udyog Ltd. Vs. CCE- 2004 (173) ELT 382 (Tri-Del) affirmed by the Punjab Haryana High Court reported in .....

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..... of Bombay in CCE, Aurangabad Vs. Greaves Cotton Ltd. - 2008 (225) ELT 198 (Bom) wherein the Hon'ble High Court upheld the confirmation of demand by the department when shortage of inputs were noticed and the assessee was unable to account for utilization of inputs which were found short and credit was taken. Therefore, he pleads that the appellant be put to terms. 5. The learned Counsel in .....

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..... artment was right in denying the Cenvat Credit on such inputs found short. However, the Hon'ble High Court observed that the demand cannot be confirmed for the extended period as there cannot be any mis-statement on the part of the appellant in such cases as the shortage was with reference to stock recorded in the books of accounts. Following the ratio of this decision, we direct the appellant .....

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