https://www.taxtmi.com/caselaws?id=358481 The value shown in a balance sheet could not, by itself, be used to demand reversal of CENVAT credit on closing stock of raw materials and finished goods where the figures were composite and not segregated between duty-paid inputs, traded goods, and non-duty-paid stock. In the absence of evidence from the Revenue showing that the entire closing stock represented credit-bearing goods, the balance sheet entry was insufficient as the sole basis for computation. The assessee's explanation that part of the stock comprised traded goods and non-duty-paid materials remained uncontroverted, so the proposed reversal could not be sustained. en-us Thu, 22 Mar 2018 00:00:00 +0530 Mon, 18 Mar 2019 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358481 The value shown in a balance sheet could not, by itself, be used to demand reversal of CENVAT credit on closing stock of raw materials and finished goods where the figures were composite and not segregated between duty-paid inputs, traded goods, and non-duty-paid stock. In the absence of evidence from the Revenue showing that the entire closing stock represented credit-bearing goods, the balance sheet entry was insufficient as the sole basis for computation. The assessee's explanation that part of the stock comprised traded goods and non-duty-paid materials remained uncontroverted, so the proposed reversal could not be sustained. Case-Laws Central Excise Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358481