https://www.taxtmi.com/caselaws?id=116051 Deemed credit was held inadmissible on ship-breaking scrap lying in stock where the inputs had not suffered central excise duty, because the governing clarification excluded non-duty-paid scrap from the re-rollable materials scheme. The Tribunal also held that, although the credit was wrongly taken, the penalties and confiscation were excessive on the facts. It therefore reduced the penalty and set aside confiscation of plant and machinery, granting partial relief on the consequential measures while sustaining denial of credit. en-us Wed, 13 Jul 2005 00:00:00 +0530 Wed, 06 Jun 2012 17:47:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116051 Deemed credit was held inadmissible on ship-breaking scrap lying in stock where the inputs had not suffered central excise duty, because the governing clarification excluded non-duty-paid scrap from the re-rollable materials scheme. The Tribunal also held that, although the credit was wrongly taken, the penalties and confiscation were excessive on the facts. It therefore reduced the penalty and set aside confiscation of plant and machinery, granting partial relief on the consequential measures while sustaining denial of credit. Case-Laws Central Excise Wed, 13 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116051