https://www.taxtmi.com/caselaws?id=119114 A clarificatory letter that refers back to earlier stock declarations does not amount to a fresh declaration for denying deemed Cenvat credit. The appellant had already filed stock declarations before the later letter, and the letter merely sought clarification on the formula for valuing stock under the notification. On that basis, the denial of credit was not justified at the stay stage, and the demand did not warrant insistence on pre-deposit of duty and penalty. The issue was treated as being in favour of the assessee, with recovery stayed pending final hearing. en-us Wed, 22 Mar 2006 00:00:00 +0530 Mon, 09 Jul 2012 11:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119114 A clarificatory letter that refers back to earlier stock declarations does not amount to a fresh declaration for denying deemed Cenvat credit. The appellant had already filed stock declarations before the later letter, and the letter merely sought clarification on the formula for valuing stock under the notification. On that basis, the denial of credit was not justified at the stay stage, and the demand did not warrant insistence on pre-deposit of duty and penalty. The issue was treated as being in favour of the assessee, with recovery stayed pending final hearing. Case-Laws Central Excise Wed, 22 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119114