https://www.taxtmi.com/caselaws?id=170714 Cenvat credit was denied where the department established that the invoiced stainless steel inputs were not received and that the factory stock consisted only of assorted mixed scrap, making the invoices commercially inconsistent with the physical goods found. The extended period of limitation and penalties on the manufacturer and its senior purchase manager were sustained because the record supported fraudulent availment of credit, suppression, and knowing participation in the procurement pattern. By contrast, the penalty on the financing company was set aside because the evidence did not show knowledge of the non-supply of goods or conscious connivance in the invoice misuse. en-us Thu, 21 Mar 2013 00:00:00 +0530 Tue, 02 Jun 2015 10:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170714 Cenvat credit was denied where the department established that the invoiced stainless steel inputs were not received and that the factory stock consisted only of assorted mixed scrap, making the invoices commercially inconsistent with the physical goods found. The extended period of limitation and penalties on the manufacturer and its senior purchase manager were sustained because the record supported fraudulent availment of credit, suppression, and knowing participation in the procurement pattern. By contrast, the penalty on the financing company was set aside because the evidence did not show knowledge of the non-supply of goods or conscious connivance in the invoice misuse. Case-Laws Central Excise Thu, 21 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170714