https://www.taxtmi.com/caselaws?id=546 Reversal of credit on common inputs used for exempted or nil-rate clearances was treated as equivalent to non-availment of credit, so an additional percentage-based reversal demand was not sustainable. The Tribunal also noted that where the assessee had already reversed credit on a pro rata basis, the further demand could not survive. On the related-person valuation issue, the demand was rejected because the facts did not support the allegation of the requisite business interest, and the consequential penalty and interest also failed once the demand was set aside. The same reasoning was applied to the connected dispute involving pipeline supplies and impracticable separate inventory maintenance. en-us Fri, 26 Aug 2005 00:00:00 +0530 Sun, 13 Apr 2008 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=546 Reversal of credit on common inputs used for exempted or nil-rate clearances was treated as equivalent to non-availment of credit, so an additional percentage-based reversal demand was not sustainable. The Tribunal also noted that where the assessee had already reversed credit on a pro rata basis, the further demand could not survive. On the related-person valuation issue, the demand was rejected because the facts did not support the allegation of the requisite business interest, and the consequential penalty and interest also failed once the demand was set aside. The same reasoning was applied to the connected dispute involving pipeline supplies and impracticable separate inventory maintenance. Case-Laws Central Excise Fri, 26 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=546