https://www.taxtmi.com/caselaws?id=426400 The tribunal allowed the appeals filed by M/s Responsive Industries Ltd, setting aside the demands and penalties. In the case of M/s Axiom Cordages Ltd, the tribunal remanded the matter to the adjudicating authority for verifying the correctness of the reversal of credit. The tribunal emphasized that reversal of credit amounts to non-availment of credit and that the demands raised were disproportionate. The tribunal also held that the extended period of limitation could not be invoked without clear evidence of suppression. en-us Fri, 12 Aug 2022 00:00:00 +0530 Wed, 17 Aug 2022 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426400 The tribunal allowed the appeals filed by M/s Responsive Industries Ltd, setting aside the demands and penalties. In the case of M/s Axiom Cordages Ltd, the tribunal remanded the matter to the adjudicating authority for verifying the correctness of the reversal of credit. The tribunal emphasized that reversal of credit amounts to non-availment of credit and that the demands raised were disproportionate. The tribunal also held that the extended period of limitation could not be invoked without clear evidence of suppression. Case-Laws Central Excise Fri, 12 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426400