https://www.taxtmi.com/caselaws?id=245647 The Tribunal upheld the disallowance of CENVAT credit and penalties on the main appellant and partner due to fraudulent practices involving non-existent suppliers and forged invoices. The main appellant's argument against penalties was rejected as they were aware of the fraud. Admissibility of CENVAT credit on grey fabrics was denied based on the need for actual receipt of goods. The main appellant was granted the option of a reduced penalty, while the partner's penalty was upheld for involvement in the fraudulent scheme. The appeal was mostly rejected, except for granting the reduced penalty option to the main appellant. en-us Tue, 01 Apr 2014 00:00:00 +0530 Mon, 24 Nov 2014 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245647 The Tribunal upheld the disallowance of CENVAT credit and penalties on the main appellant and partner due to fraudulent practices involving non-existent suppliers and forged invoices. The main appellant's argument against penalties was rejected as they were aware of the fraud. Admissibility of CENVAT credit on grey fabrics was denied based on the need for actual receipt of goods. The main appellant was granted the option of a reduced penalty, while the partner's penalty was upheld for involvement in the fraudulent scheme. The appeal was mostly rejected, except for granting the reduced penalty option to the main appellant. Case-Laws Central Excise Tue, 01 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245647