https://www.taxtmi.com/caselaws?id=261624 Cenvat credit was held reversible where significant input shortages were found in stock verification, were not reflected in statutory records, and were treated internally as consumption without proof of use in manufacture. The Tribunal accepted that such shortages justified reversal because credit is available only on inputs actually used in final products. Suppression of facts was also inferred from the non-disclosure, so invocation of the extended limitation period and penalty under Section 11AC were sustained. However, the additional penalties under Rules 13 and 15 of the Cenvat Credit Rules were set aside because the same factual matrix had already attracted the Section 11AC penalty. en-us Fri, 13 Feb 2015 00:00:00 +0530 Tue, 06 Feb 2018 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261624 Cenvat credit was held reversible where significant input shortages were found in stock verification, were not reflected in statutory records, and were treated internally as consumption without proof of use in manufacture. The Tribunal accepted that such shortages justified reversal because credit is available only on inputs actually used in final products. Suppression of facts was also inferred from the non-disclosure, so invocation of the extended limitation period and penalty under Section 11AC were sustained. However, the additional penalties under Rules 13 and 15 of the Cenvat Credit Rules were set aside because the same factual matrix had already attracted the Section 11AC penalty. Case-Laws Central Excise Fri, 13 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261624