https://www.taxtmi.com/caselaws?id=237185 Deemed Cenvat credit could not be denied, with interest and penalty, where the record did not establish direct complicity of the assessee in the alleged fictitious transactions. The Tribunal noted that the merchant exporter was found to be fake and the transactions lacked proof of genuineness, but there was no direct evidence that the fraud was committed by the assessee. Relying on its earlier identical decision and the evidence of duty payment on the final product through the PLA, it held that the allegations alone were insufficient to sustain the demand. The credit, interest, and penalty were therefore set aside. en-us Wed, 16 Jan 2013 00:00:00 +0530 Fri, 20 Sep 2013 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237185 Deemed Cenvat credit could not be denied, with interest and penalty, where the record did not establish direct complicity of the assessee in the alleged fictitious transactions. The Tribunal noted that the merchant exporter was found to be fake and the transactions lacked proof of genuineness, but there was no direct evidence that the fraud was committed by the assessee. Relying on its earlier identical decision and the evidence of duty payment on the final product through the PLA, it held that the allegations alone were insufficient to sustain the demand. The credit, interest, and penalty were therefore set aside. Case-Laws Central Excise Wed, 16 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237185