https://www.taxtmi.com/caselaws?id=371468 The Tribunal set aside the demands and penalties imposed on a manufacturing company for allegedly availing excess Cenvat credit on inputs without actual use in the final product manufacturing process. The Tribunal emphasized that the loss of inputs during manufacturing does not justify denying credit, especially when inputs were issued for production and converted into waste or scrap. The denial of credit on rejected products was upheld, but the penalty was set aside due to the absence of malafide intent and proper record-keeping by the appellant. en-us Mon, 19 Nov 2018 00:00:00 +0530 Wed, 05 Dec 2018 06:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371468 The Tribunal set aside the demands and penalties imposed on a manufacturing company for allegedly availing excess Cenvat credit on inputs without actual use in the final product manufacturing process. The Tribunal emphasized that the loss of inputs during manufacturing does not justify denying credit, especially when inputs were issued for production and converted into waste or scrap. The denial of credit on rejected products was upheld, but the penalty was set aside due to the absence of malafide intent and proper record-keeping by the appellant. Case-Laws Central Excise Mon, 19 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371468