Court Finds Lack of Evidence in Cenvat Credit Case; Non-Compliance Conclusion Deemed Unsupported by Facts.

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....Cenvat credit - exempted and taxable services - In the absence of the Adjudicating Authority recording a clear finding that the assessee failed to maintain separate accounts and on the basis of some evidence in support of such conclusion, the inference of a failure to maintain separate accounts, is a finding of fact based on no evidence. It is therefore perverse. - AT....