https://www.taxtmi.com/caselaws?id=340902 CENVAT credit reversal could not be demanded on the entire amortised reduction in closing stock value where the reduced amount reflected both input cost and non-input expenditure such as salaries, power, overheads, depreciation and interest. The assessee had already reversed credit on the raw-material component, and its explanation was supported by records and a statutory auditor certificate. In the absence of contrary evidence showing that the whole reduced amount represented inputs on which credit had been availed, reversal was confined to the actual inputs consumed for research and development. The demand was therefore unsustainable and the assessee succeeded. en-us Tue, 21 Mar 2017 00:00:00 +0530 Wed, 29 Mar 2017 07:11:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340902 CENVAT credit reversal could not be demanded on the entire amortised reduction in closing stock value where the reduced amount reflected both input cost and non-input expenditure such as salaries, power, overheads, depreciation and interest. The assessee had already reversed credit on the raw-material component, and its explanation was supported by records and a statutory auditor certificate. In the absence of contrary evidence showing that the whole reduced amount represented inputs on which credit had been availed, reversal was confined to the actual inputs consumed for research and development. The demand was therefore unsustainable and the assessee succeeded. Case-Laws Central Excise Tue, 21 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340902