TMI Blog2017 (8) TMI 780X X X X Extracts X X X X X X X X Extracts X X X X ..... al product manufactured on the very day, it makes it abundantly clear that there need not be co-relation between the input and the goods cleared and as a result, validly taken credit need not be reversed - appeal allowed - decided in favor of appellant. - E/107/2006 - 40930/2017 - Dated:- 12-6-2017 - Ms. Sulekha Beevi C.S. Member (Judicial) And Shri V. Padmanabhan, Member (Technical) Ms. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as well as inputs used in the manufacture of finished products in stock, are required to be reversed. Accordingly, both the authorities below have held that appellant is liable to reverse an amount of ₹ 10,60,985/- along with interest. Aggrieved by this impugned order, present appeal has been filed. 2. With this back ground, we heard Ms. L. Mythili, Ld. Advocate on behalf of the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also gone through the case law cited by the appellant and note that the case law specifically covers the issue in question in the present case. The Hon ble Madras High Court decided the issue as follows : 16. Once it is held that no co-relation between the raw material and the final product is required, the appellant s plea stands answered. If credit can be taken against excise duty on a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
