https://www.taxtmi.com/caselaws?id=762003 CESTAT Kolkata allowed appeals challenging denial of CENVAT credit and penalties imposed on three appellants. The tribunal found that the entire case was based solely on one appellant's statement without corroborative evidence. The revenue alleged evasion through non-receipt of pig iron and misuse of CENVAT credit facility. However, the authorized representative of the third appellant never admitted any transactions with the first appellant, and goods received were used in manufacturing dutiable final products. The tribunal held that demand cannot be raised based on third-party statements alone without supporting evidence, setting aside penalties against all appellants. en-us Thu, 21 Nov 2024 00:00:00 +0530 Fri, 22 Nov 2024 07:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762003 CESTAT Kolkata allowed appeals challenging denial of CENVAT credit and penalties imposed on three appellants. The tribunal found that the entire case was based solely on one appellant's statement without corroborative evidence. The revenue alleged evasion through non-receipt of pig iron and misuse of CENVAT credit facility. However, the authorized representative of the third appellant never admitted any transactions with the first appellant, and goods received were used in manufacturing dutiable final products. The tribunal held that demand cannot be raised based on third-party statements alone without supporting evidence, setting aside penalties against all appellants. Case-Laws Central Excise Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762003