https://www.taxtmi.com/caselaws?id=450150 CESTAT Mumbai upheld recovery of cenvat credit of Rs.5,63,66,047/- along with interest and equal penalty where inputs were cleared as such without manufacturing, distinguishing the case from precedent where duty payment was accepted by Revenue. However, the Tribunal set aside demand of Rs.1,18,45,107/- as appellant was eligible to debit proportionate cenvat credit for trading activity, which was already appropriated by original authority. Penalty on Managing Director was also set aside for lack of personal culpability. Appeal allowed in part. en-us Tue, 27 Feb 2024 00:00:00 +0530 Thu, 29 Feb 2024 07:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450150 CESTAT Mumbai upheld recovery of cenvat credit of Rs.5,63,66,047/- along with interest and equal penalty where inputs were cleared as such without manufacturing, distinguishing the case from precedent where duty payment was accepted by Revenue. However, the Tribunal set aside demand of Rs.1,18,45,107/- as appellant was eligible to debit proportionate cenvat credit for trading activity, which was already appropriated by original authority. Penalty on Managing Director was also set aside for lack of personal culpability. Appeal allowed in part. Case-Laws Central Excise Tue, 27 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450150