https://www.taxtmi.com/caselaws?id=327797 The Tribunal set aside the denial of Modvat credit on GP sheets, ruling that the allegations of fraudulent availing lacked concrete evidence. The appellants' use of GP sheets was deemed permissible, and the absence of proof of clandestine sales weakened the Revenue's case. Additionally, the demand was barred by limitation as the appellants had correctly reflected credits in statutory records. The appeals were allowed, emphasizing the necessity of concrete evidence over assumptions in judicial decisions, leading to the dismissal of duty demands and penalties. en-us Tue, 23 Feb 2016 00:00:00 +0530 Thu, 19 May 2016 18:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327797 The Tribunal set aside the denial of Modvat credit on GP sheets, ruling that the allegations of fraudulent availing lacked concrete evidence. The appellants' use of GP sheets was deemed permissible, and the absence of proof of clandestine sales weakened the Revenue's case. Additionally, the demand was barred by limitation as the appellants had correctly reflected credits in statutory records. The appeals were allowed, emphasizing the necessity of concrete evidence over assumptions in judicial decisions, leading to the dismissal of duty demands and penalties. Case-Laws Central Excise Tue, 23 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327797