https://www.taxtmi.com/caselaws?id=789930 CENVAT/MODVAT credit cannot be denied merely because balance-sheet figures differ from RG-23A Part I or because shortages were noticed later, unless there is cogent evidence of non-receipt, non-consumption, or clandestine removal of inputs; on the record, the denial of credit was unsustainable. The extended limitation period also could not be invoked where returns were regularly filed, audits were periodic, and suppression with intent to evade duty was not established. Proceedings under Rule 12 of the CENVAT Credit Rules, 2001 were jurisdictionally unsustainable for credit availed under the earlier MODVAT regime, because the later provision could not be applied retrospectively to earlier transactions. en-us Thu, 16 Apr 2026 00:00:00 +0530 Thu, 16 Apr 2026 18:00:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789930 CENVAT/MODVAT credit cannot be denied merely because balance-sheet figures differ from RG-23A Part I or because shortages were noticed later, unless there is cogent evidence of non-receipt, non-consumption, or clandestine removal of inputs; on the record, the denial of credit was unsustainable. The extended limitation period also could not be invoked where returns were regularly filed, audits were periodic, and suppression with intent to evade duty was not established. Proceedings under Rule 12 of the CENVAT Credit Rules, 2001 were jurisdictionally unsustainable for credit availed under the earlier MODVAT regime, because the later provision could not be applied retrospectively to earlier transactions. Case-Laws Central Excise Thu, 16 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789930