TaxTMI 
TaxTMI 
2012 (9) TMI 674
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....i S.K. Panda, JCDR, for the Respondent. [Order]. - Appellant's contention is that when invoices of MS scrap has been received from M/s. Mahavir Prasad and those were used in manufacture, there cannot be denial of Cenvat Credit since the department has no objection to returns filed by the appellant, nor any discrepancy in its excise records were found. It is also submission of the appellant t....
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....e. 2. On the other hand, ld. JCDR invites attention to para 10 of the appellate order to bring out the material facts of the case. He says that the appellant was conduit to cause loss of Revenue using only invoices and claimed cenvat credit in respect of goods mentioned in the fake invoices as if those were cleared by M/s. Mahavir Prasad & Co. Drawing attention to para 10.2 of the order, h....
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....ss caused to Revenue, the risk is always with the assessee to suffer unless it comes out with clean hands following the ratio laid down in Aafloat Textiles (I) P. Ltd. - 2009 (235) E.L.T. 587 (S.C.). Therefore his prayer is to dismiss the appeal of the appellant. 4. Heard both sides and perused the record. 5. Perusal of paras 10.1 to 10.9 of the Appellate order throws light on the ....
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....resent appellant is only to make undue gain at the cost of Public Revenue. When such a fraud surfaces, Revenue is entitled to the ratio laid down by the Apex Court in the case of Candid Enterprises (supra). It may be stated that Section 17 of the Limitation Act, 1963 has embodied cardinal principle that fraud nullifies everything. The fraudulent act of the appellant has caused loss to Revenue. The....