https://www.taxtmi.com/caselaws?id=370631 CENVAT credit on inputs lying in stock is available only where the claimed stock is supported by statutory records and the declared quantities tally with those records. The High Court found that the monthly accounts and other material showed a mismatch in the declared stock on the relevant date, and the assessee had not established correlation between the inputs and the finished goods. On those facts, denial of credit was justified because an unsupported claim could facilitate clandestine removal. The court found the precedent relied on by the assessee inapplicable and upheld disallowance of the credit. en-us Fri, 20 Jul 2018 00:00:00 +0530 Wed, 21 Nov 2018 21:28:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370631 CENVAT credit on inputs lying in stock is available only where the claimed stock is supported by statutory records and the declared quantities tally with those records. The High Court found that the monthly accounts and other material showed a mismatch in the declared stock on the relevant date, and the assessee had not established correlation between the inputs and the finished goods. On those facts, denial of credit was justified because an unsupported claim could facilitate clandestine removal. The court found the precedent relied on by the assessee inapplicable and upheld disallowance of the credit. Case-Laws Central Excise Fri, 20 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370631