https://www.taxtmi.com/caselaws?id=356546 Cenvat credit on inputs purchased from a first stage dealer was upheld because the assessee maintained statutory records of receipt, consumption, inventory, gate registers, ledger entries, bank payments and production, and had taken reasonable steps to verify the supplier. The Revenue's allegation of non-receipt of goods and use of parallel invoices failed for want of positive evidence, including any stock shortage or proof of fabricated invoices. The demand was also held time-barred because the record did not show suppression, fraud, collusion or misstatement, so the extended period of limitation was not available. en-us Fri, 16 Feb 2018 00:00:00 +0530 Fri, 16 Mar 2018 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356546 Cenvat credit on inputs purchased from a first stage dealer was upheld because the assessee maintained statutory records of receipt, consumption, inventory, gate registers, ledger entries, bank payments and production, and had taken reasonable steps to verify the supplier. The Revenue's allegation of non-receipt of goods and use of parallel invoices failed for want of positive evidence, including any stock shortage or proof of fabricated invoices. The demand was also held time-barred because the record did not show suppression, fraud, collusion or misstatement, so the extended period of limitation was not available. Case-Laws Central Excise Fri, 16 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356546