https://www.taxtmi.com/caselaws?id=239813 Wrongful availment of Cenvat credit based on invoices without receipt of goods was confirmed where stock verification showed shortage, the authorised signatory admitted the lapse, and the credit was reversed with payment on the same day. A later explanation that the goods were available was treated as a delayed afterthought and did not displace the immediate admission or the verification record. On that basis, the demand for credit, interest, and equal penalty was sustained. Because the wrongly availed credit was used to discharge duty on clearances, the clearances were treated as effectively made without payment of duty for penalty purposes, and the penalty under Rule 25 was also upheld. en-us Fri, 27 Sep 2013 00:00:00 +0530 Thu, 21 Nov 2013 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239813 Wrongful availment of Cenvat credit based on invoices without receipt of goods was confirmed where stock verification showed shortage, the authorised signatory admitted the lapse, and the credit was reversed with payment on the same day. A later explanation that the goods were available was treated as a delayed afterthought and did not displace the immediate admission or the verification record. On that basis, the demand for credit, interest, and equal penalty was sustained. Because the wrongly availed credit was used to discharge duty on clearances, the clearances were treated as effectively made without payment of duty for penalty purposes, and the penalty under Rule 25 was also upheld. Case-Laws Central Excise Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239813