https://www.taxtmi.com/caselaws?id=762947 CESTAT Kolkata allowed the appeal, setting aside multiple demands totaling approximately Rs. 2.76 crores against the appellant. The tribunal held that undervaluation demands for stock transfers and sales to sister units were not sustainable due to revenue neutrality, as duty paid by appellant was available as CENVAT credit to receiving units. Transit loss allowances were permitted for methanol shortages. CENVAT credit denial for R&D inputs was reversed, recognizing research activities as part of manufacturing. Credits based on endorsed invoices/bills of entry were allowed following HC precedent. Stock shortage allegations were rejected due to improper verification methods and lack of corroborative evidence. All penalties were set aside. en-us Mon, 09 Dec 2024 00:00:00 +0530 Tue, 10 Dec 2024 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762947 CESTAT Kolkata allowed the appeal, setting aside multiple demands totaling approximately Rs. 2.76 crores against the appellant. The tribunal held that undervaluation demands for stock transfers and sales to sister units were not sustainable due to revenue neutrality, as duty paid by appellant was available as CENVAT credit to receiving units. Transit loss allowances were permitted for methanol shortages. CENVAT credit denial for R&D inputs was reversed, recognizing research activities as part of manufacturing. Credits based on endorsed invoices/bills of entry were allowed following HC precedent. Stock shortage allegations were rejected due to improper verification methods and lack of corroborative evidence. All penalties were set aside. Case-Laws Central Excise Mon, 09 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762947