https://www.taxtmi.com/caselaws?id=752072 Central excise duty cannot be levied merely because buyer receipts in Form 26AS exceed the values declared in ER-1 returns; the levy applies only to excisable goods manufactured or produced, and the Revenue must prove that the disputed receipts represent consideration for dutiable clearances. Form 26AS is only a payment and tax deduction statement and, by itself, does not establish suppression of value. Duty also cannot be demanded on sale of capital goods sold as such where the assessee did not manufacture them. On both issues, the demand and penalty were held unsustainable. en-us Fri, 26 Apr 2024 00:00:00 +0530 Fri, 03 May 2024 07:10:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752072 Central excise duty cannot be levied merely because buyer receipts in Form 26AS exceed the values declared in ER-1 returns; the levy applies only to excisable goods manufactured or produced, and the Revenue must prove that the disputed receipts represent consideration for dutiable clearances. Form 26AS is only a payment and tax deduction statement and, by itself, does not establish suppression of value. Duty also cannot be demanded on sale of capital goods sold as such where the assessee did not manufacture them. On both issues, the demand and penalty were held unsustainable. Case-Laws Central Excise Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752072