https://www.taxtmi.com/caselaws?id=76922 Cenvat credit on grey fabrics was treated as admissible where the assessee had filed declarations and produced income tax return and invoice-based material showing the stock position, even though there was no express intimation that stock had not changed. The stated reasoning was that the department did not verify the return value against the invoices or quarterly returns and carried out no meaningful investigation to disprove the claimed stock value. On that basis, the absence of a specific no-change statement was not enough to defeat the claim, and substantial compliance with the declaration requirement supported allowance of the credit. en-us Mon, 21 Dec 2009 00:00:00 +0530 Thu, 29 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76922 Cenvat credit on grey fabrics was treated as admissible where the assessee had filed declarations and produced income tax return and invoice-based material showing the stock position, even though there was no express intimation that stock had not changed. The stated reasoning was that the department did not verify the return value against the invoices or quarterly returns and carried out no meaningful investigation to disprove the claimed stock value. On that basis, the absence of a specific no-change statement was not enough to defeat the claim, and substantial compliance with the declaration requirement supported allowance of the credit. Case-Laws Central Excise Mon, 21 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76922