https://www.taxtmi.com/caselaws?id=210856 When an assessee shifted to SSI exemption after earlier availing Cenvat credit, reversal of credit on alleged work-in-progress inputs was not required where the record showed no actual work in progress and no proof that any credit attributable to such inputs had been availed or utilised. The Tribunal treated the Revenue's reliance on the audited balance sheet as insufficient on the facts found, and the High Court found no error in that factual conclusion. On that basis, the demand and penalty were held unsustainable, and the assessee succeeded on the reversal issue. en-us Thu, 31 Mar 2011 00:00:00 +0530 Wed, 29 Aug 2012 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210856 When an assessee shifted to SSI exemption after earlier availing Cenvat credit, reversal of credit on alleged work-in-progress inputs was not required where the record showed no actual work in progress and no proof that any credit attributable to such inputs had been availed or utilised. The Tribunal treated the Revenue's reliance on the audited balance sheet as insufficient on the facts found, and the High Court found no error in that factual conclusion. On that basis, the demand and penalty were held unsustainable, and the assessee succeeded on the reversal issue. Case-Laws Central Excise Thu, 31 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210856