https://www.taxtmi.com/caselaws?id=246517 Modvat/Cenvat credit on duty-paid imported raw materials cannot be denied merely because storage records show a marginal shortage, where the inputs are liquid goods received through pipeline and accounted for by dip readings. In the absence of any allegation or proof of diversion, incorrect invoicing, or use of the goods otherwise than as inputs in manufacture, a small difference between the imported quantity and the recorded stock does not justify curtailment of credit. The credit denial was therefore held unsustainable, and the issue was decided in favour of the assessee. en-us Fri, 13 Jul 2012 00:00:00 +0530 Sun, 20 Apr 2014 16:27:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246517 Modvat/Cenvat credit on duty-paid imported raw materials cannot be denied merely because storage records show a marginal shortage, where the inputs are liquid goods received through pipeline and accounted for by dip readings. In the absence of any allegation or proof of diversion, incorrect invoicing, or use of the goods otherwise than as inputs in manufacture, a small difference between the imported quantity and the recorded stock does not justify curtailment of credit. The credit denial was therefore held unsustainable, and the issue was decided in favour of the assessee. Case-Laws Central Excise Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246517