Tribunal rejects Revenue's appeals on deemed credit for re-rollable materials

The Appellate Tribunal CEGAT, Kolkata rejected all six appeals filed by the Revenue against M/s. Wazir Steel Industries and M/s. Nilachal Ispat Nigam regarding deemed credit for re-rollable materials. The Tribunal upheld the appellate authority's decision that the goods in question were re-rollable scrap, not melting scrap as argued by the Revenue, as the respondents lacked a melting scrap furnace.

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The Appellate Tribunal CEGAT, Kolkata disposed of six appeals filed by the Revenue against M/s. Wazir Steel Industries and M/s. Nilachal Ispat Nigam regarding deemed credit availed for re-rollable materials. The Revenue argued the goods purchased were melting scrap, but the Tribunal agreed with the appellate authority that the goods were re-rollable scrap as the respondents did not have a melting scrap furnace. The Tribunal rejected all appeals filed by the Revenue.

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