https://www.taxtmi.com/caselaws?id=357039 The appellate tribunal upheld the decision to drop the demand for recovery of 10% of goods' value for non-maintenance of separate records under the CENVAT Credit Rules, 2004. The tribunal found that the respondent was entitled to exemption from the penalty as the requirement to maintain separate records for input/input services used in common for supplies to Special Economic Zones was mandatory. The court dismissed the Revenue's appeal, citing that the extended period of limitation was not applicable, and the penalty was not justified. en-us Fri, 13 Oct 2017 00:00:00 +0530 Sat, 17 Mar 2018 07:59:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357039 The appellate tribunal upheld the decision to drop the demand for recovery of 10% of goods' value for non-maintenance of separate records under the CENVAT Credit Rules, 2004. The tribunal found that the respondent was entitled to exemption from the penalty as the requirement to maintain separate records for input/input services used in common for supplies to Special Economic Zones was mandatory. The court dismissed the Revenue's appeal, citing that the extended period of limitation was not applicable, and the penalty was not justified. Case-Laws Central Excise Fri, 13 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357039