https://www.taxtmi.com/caselaws?id=254738 The Tribunal set aside the Modvat credit demand but upheld the duty demand on the shortage of finished products, emphasizing the need for timely and consistent explanations during proceedings. The appellant's reasonable explanation for the minimal difference in raw material consumption and finished product manufacture led to the rejection of the Revenue's claim for recovery of the amount related to Modvat credit. However, the appellant's belated claims of invisible loss and material in process regarding the shortage of finished products did not convince the Tribunal, resulting in the duty demand being upheld along with the imposition of interest liability under Section 11AA of the Central Excise Act. en-us Fri, 21 Mar 2014 00:00:00 +0530 Tue, 30 Dec 2014 08:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254738 The Tribunal set aside the Modvat credit demand but upheld the duty demand on the shortage of finished products, emphasizing the need for timely and consistent explanations during proceedings. The appellant's reasonable explanation for the minimal difference in raw material consumption and finished product manufacture led to the rejection of the Revenue's claim for recovery of the amount related to Modvat credit. However, the appellant's belated claims of invisible loss and material in process regarding the shortage of finished products did not convince the Tribunal, resulting in the duty demand being upheld along with the imposition of interest liability under Section 11AA of the Central Excise Act. Case-Laws Central Excise Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254738