Excise duty demand over finished-goods shortage and Cenvat credit on steel structures/capital goods overturned; extended limitation rejected

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....Demand of excise duty based solely on shortage of finished goods detected on physical verification was held unsustainable because mere shortage, absent corroborative evidence, does not establish clandestine removal; the demand and allied penalty were set aside. Cenvat credit on steel items used for base structures/shades and related works was held admissible since the contrary Larger Bench view stood overturned and the amended input definition supported credit; denial was set aside. Credit on capital goods received after the unit became operational was allowed as timing of receipt, without dispute on receipt/use, is not a bar. Where the show cause notice invoked the extended period on interpretational issues, extended limitation failed and, the notice being composite, the entire demand (including normal period) was quashed; consequential relief followed. - CESTAT....