https://www.taxtmi.com/caselaws?id=242568 The Appellate Tribunal CESTAT NEW DELHI upheld the disallowance of Cenvat credit amounting to Rs. 87,44,929/- and imposed an equal penalty on the appellant for failing to substantiate the credit claims with evidence of input receipt and utilization in the manufacturing process. The tribunal emphasized the seriousness of fraudulent practices in availing credits and directed the appellant to deposit the disputed amount within a specified time frame, warning of dismissal of all appeals in case of non-compliance. The judgment serves as a reminder of the importance of transparency and compliance in tax matters to avoid penalties and adverse legal consequences. en-us Wed, 13 Mar 2013 00:00:00 +0530 Sat, 18 Jan 2014 10:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242568 The Appellate Tribunal CESTAT NEW DELHI upheld the disallowance of Cenvat credit amounting to Rs. 87,44,929/- and imposed an equal penalty on the appellant for failing to substantiate the credit claims with evidence of input receipt and utilization in the manufacturing process. The tribunal emphasized the seriousness of fraudulent practices in availing credits and directed the appellant to deposit the disputed amount within a specified time frame, warning of dismissal of all appeals in case of non-compliance. The judgment serves as a reminder of the importance of transparency and compliance in tax matters to avoid penalties and adverse legal consequences. Case-Laws Central Excise Wed, 13 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242568