https://www.taxtmi.com/forum/issue?id=110392 Bogus availing of Cenvat credit exposes an assessee to prosecution where fraud meets the statutory threshold, imposition of a penalty equal to the fraudulently availed amount under the Cenvat Credit Rules, and recovery of the credit with statutory interest under the Rules read with the Finance Act. Information exchange between revenue departments can prompt the income-tax authority to examine returns and disallow related amounts for income-tax purposes. en-us Tue, 24 May 2016 09:16:00 +0530 Thu, 23 Jan 2025 15:56:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110392 Bogus availing of Cenvat credit exposes an assessee to prosecution where fraud meets the statutory threshold, imposition of a penalty equal to the fraudulently availed amount under the Cenvat Credit Rules, and recovery of the credit with statutory interest under the Rules read with the Finance Act. Information exchange between revenue departments can prompt the income-tax authority to examine returns and disallow related amounts for income-tax purposes. Discussion-Forum Service Tax Tue, 24 May 2016 09:16:00 +0530 https://www.taxtmi.com/forum/issue?id=110392