https://www.taxtmi.com/caselaws?id=362509 The Tribunal upheld that the Cenvat credit reversal was prospective, leading to the dismissal of the appeal regarding the failure to pay the specified percentages for trading raw materials. The respondent's failure to maintain separate accounts resulted in the disallowance of Cenvat credit and imposition of a penalty. The Tribunal also confirmed the validity of debit notes as duty paying documents and dismissed the Revenue's appeal for the imposition of penalty under Section 11AC of the Central Excise Act, 1944. en-us Fri, 15 Dec 2017 00:00:00 +0530 Thu, 28 Jun 2018 10:39:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362509 The Tribunal upheld that the Cenvat credit reversal was prospective, leading to the dismissal of the appeal regarding the failure to pay the specified percentages for trading raw materials. The respondent's failure to maintain separate accounts resulted in the disallowance of Cenvat credit and imposition of a penalty. The Tribunal also confirmed the validity of debit notes as duty paying documents and dismissed the Revenue's appeal for the imposition of penalty under Section 11AC of the Central Excise Act, 1944. Case-Laws Central Excise Fri, 15 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362509