https://www.taxtmi.com/caselaws?id=432023 The tribunal ruled against M/s Amar Tubes Pvt Ltd in their claim for refund of duty liability, restoration of credit, and monetization of credit. The appellant's argument based on legal precedents and the delay in credit restoration was rejected. The tribunal emphasized that the CENVAT credit scheme aims to prevent tax cascading and does not allow monetization of unutilized credit. Referring to relevant legal decisions, including one by the Hon'ble High Court of Bombay, the tribunal dismissed the appeal, stating that allowing monetization would undermine the imposition of duty/tax on manufactured goods. The appeal was deemed meritless and dismissed on 21/12/2022. en-us Wed, 21 Dec 2022 00:00:00 +0530 Tue, 27 Dec 2022 07:00:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432023 The tribunal ruled against M/s Amar Tubes Pvt Ltd in their claim for refund of duty liability, restoration of credit, and monetization of credit. The appellant's argument based on legal precedents and the delay in credit restoration was rejected. The tribunal emphasized that the CENVAT credit scheme aims to prevent tax cascading and does not allow monetization of unutilized credit. Referring to relevant legal decisions, including one by the Hon'ble High Court of Bombay, the tribunal dismissed the appeal, stating that allowing monetization would undermine the imposition of duty/tax on manufactured goods. The appeal was deemed meritless and dismissed on 21/12/2022. Case-Laws Central Excise Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432023