https://www.taxtmi.com/caselaws?id=753574 CESTAT Chandigarh allowed the appeal regarding CENVAT credit denial for scrapped/raw materials. The tribunal found the case was based solely on ledger entries without proper investigation or recorded statements. The appellant maintained proper records verified by drug authorities and provided chartered accountant certification showing only 0.28% variance, which is industry-acceptable. Following Tata Motors precedent, CESTAT held CENVAT credit cannot be denied on theoretical input variance. The demand was also time-barred as it was based only on audit without further investigation, and the appellant regularly filed returns without suppressing material facts to evade duty payment. en-us Tue, 04 Jun 2024 00:00:00 +0530 Wed, 05 Jun 2024 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753574 CESTAT Chandigarh allowed the appeal regarding CENVAT credit denial for scrapped/raw materials. The tribunal found the case was based solely on ledger entries without proper investigation or recorded statements. The appellant maintained proper records verified by drug authorities and provided chartered accountant certification showing only 0.28% variance, which is industry-acceptable. Following Tata Motors precedent, CESTAT held CENVAT credit cannot be denied on theoretical input variance. The demand was also time-barred as it was based only on audit without further investigation, and the appellant regularly filed returns without suppressing material facts to evade duty payment. Case-Laws Central Excise Tue, 04 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753574