https://www.taxtmi.com/caselaws?id=754297 The CESTAT Kolkata allowed the appeal in a case involving valuation of goods and stock transfer. The tribunal held that since goods were cleared on stock transfer to sister units and the entire duty paid would be available as Cenvat credit to the recipient unit, the issue was revenue neutral. Following precedent from Anglo French Textiles case, the demand was set aside. The tribunal also ruled that extended period of limitation was not invokable as appellants had not mis-declared or suppressed information with intent to evade duty. Consequently, penalties were also set aside and the impugned order was overturned. en-us Wed, 29 Nov 2023 00:00:00 +0530 Fri, 21 Jun 2024 08:15:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754297 The CESTAT Kolkata allowed the appeal in a case involving valuation of goods and stock transfer. The tribunal held that since goods were cleared on stock transfer to sister units and the entire duty paid would be available as Cenvat credit to the recipient unit, the issue was revenue neutral. Following precedent from Anglo French Textiles case, the demand was set aside. The tribunal also ruled that extended period of limitation was not invokable as appellants had not mis-declared or suppressed information with intent to evade duty. Consequently, penalties were also set aside and the impugned order was overturned. Case-Laws Central Excise Wed, 29 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754297