2015 (8) TMI 493

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..... . It was demonstrated before the authorities that though the shortage of the inputs was to the tune of ₹ 25.67 crores, at the same time many other inputs were in excess and those figures were to the tune of ₹ 27.59 crores during the same period. This fact alone demonstrates the bona fides of the respondent in claiming the Modvat credit on the basis of figures disclosed by them in respe .....

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..... r of the Tribunal that the Tribunal has discussed in detail the accounting system of the respondent. The magnitude of the inputs used and the discrepancy which arose because of the various factors, on that basis it is stated that when the shortage of inputs as corrected is only 0.24%, that would be immaterial and correction of the total input is in use. In addition we find that the respondent had .....

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