https://www.taxtmi.com/caselaws?id=122396 One-time transitional Cenvat credit under Rule 9A was denied because the inputs were not physically in stock on the prescribed date and the required declaration was not filed within time; earlier presence of the goods in the premises and their later return after seizure did not satisfy the statutory conditions. The penalty equal to the disputed credit was nonetheless set aside, as the surrounding facts were treated as sufficient to warrant relief from penal consequences. The credit denial was sustained, while the penalty was annulled, leaving the appeal partly allowed. en-us Thu, 14 Jun 2007 00:00:00 +0530 Mon, 13 Aug 2012 14:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122396 One-time transitional Cenvat credit under Rule 9A was denied because the inputs were not physically in stock on the prescribed date and the required declaration was not filed within time; earlier presence of the goods in the premises and their later return after seizure did not satisfy the statutory conditions. The penalty equal to the disputed credit was nonetheless set aside, as the surrounding facts were treated as sufficient to warrant relief from penal consequences. The credit denial was sustained, while the penalty was annulled, leaving the appeal partly allowed. Case-Laws Central Excise Thu, 14 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122396