https://www.taxtmi.com/caselaws?id=750672 The Tribunal ruled in favor of the appellant, determining that the correct valuation method for reversing cenvat credit on inputs cleared as such is based on the average value of inputs procured annually, not the highest monthly value. Consequently, the show-cause notices demanding reversal based on the highest monthly value were set aside. Additionally, regarding the clearance of Sinter, the Tribunal found that the Revenue's method lacked legal merit, and the appellant's argument prevailed. The appeal by the appellant was allowed, and the Revenue's appeal was dismissed, underscoring the necessity of applying the correct valuation methodology. en-us Wed, 06 Mar 2024 00:00:00 +0530 Thu, 28 Mar 2024 08:51:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750672 The Tribunal ruled in favor of the appellant, determining that the correct valuation method for reversing cenvat credit on inputs cleared as such is based on the average value of inputs procured annually, not the highest monthly value. Consequently, the show-cause notices demanding reversal based on the highest monthly value were set aside. Additionally, regarding the clearance of Sinter, the Tribunal found that the Revenue's method lacked legal merit, and the appellant's argument prevailed. The appeal by the appellant was allowed, and the Revenue's appeal was dismissed, underscoring the necessity of applying the correct valuation methodology. Case-Laws Central Excise Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750672