https://www.taxtmi.com/caselaws?id=425164 The High Court of Calcutta upheld the Tribunal's decision in favor of the assessee in a case involving Cenvat Credit Rules. The Court ruled that the demand for duty was unjustified due to the absence of deliberate suppression or misstatement by the assessee. Additionally, the Court found that the obligation to reverse Cenvat Credit for exempted trading activity was incorrectly calculated by the assessing authority, leading to the dismissal of the revenue's appeal. The Court concluded that the demands imposed on the assessee exceeded the actual Cenvat Credit amount, resulting in a ruling against the revenue on both issues raised in the appeal. en-us Wed, 13 Jul 2022 00:00:00 +0530 Mon, 06 Mar 2023 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425164 The High Court of Calcutta upheld the Tribunal's decision in favor of the assessee in a case involving Cenvat Credit Rules. The Court ruled that the demand for duty was unjustified due to the absence of deliberate suppression or misstatement by the assessee. Additionally, the Court found that the obligation to reverse Cenvat Credit for exempted trading activity was incorrectly calculated by the assessing authority, leading to the dismissal of the revenue's appeal. The Court concluded that the demands imposed on the assessee exceeded the actual Cenvat Credit amount, resulting in a ruling against the revenue on both issues raised in the appeal. Case-Laws Service Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425164