https://www.taxtmi.com/caselaws?id=325295 The denial of Cenvat credit on capital goods was upheld, but penalties for shortage of raw materials were set aside due to lack of evidence of clandestine removal, except for the statement of the authorized signatory. The Tribunal found the stock-taking method flawed and lacking substantiation, leading to the reversal of the demand for the shortage of raw materials and associated penalties. Penalties on the company and authorized signatory were also set aside as there was no evidence of clandestine removal, emphasizing the need for tangible evidence to support allegations of clandestine activities. The appeal was allowed with consequential benefits. en-us Mon, 30 Nov 2015 00:00:00 +0530 Wed, 16 Mar 2016 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325295 The denial of Cenvat credit on capital goods was upheld, but penalties for shortage of raw materials were set aside due to lack of evidence of clandestine removal, except for the statement of the authorized signatory. The Tribunal found the stock-taking method flawed and lacking substantiation, leading to the reversal of the demand for the shortage of raw materials and associated penalties. Penalties on the company and authorized signatory were also set aside as there was no evidence of clandestine removal, emphasizing the need for tangible evidence to support allegations of clandestine activities. The appeal was allowed with consequential benefits. Case-Laws Central Excise Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325295