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TMI Blog2017 (1) TMI 1850X X X X Extracts X X X X X X X X Extracts X X X X ..... erse the interest on the amount of CENVAT credit availed on the inputs that were used in manufacture of finished goods allowed to be destroyed after permitting remission of duty under Rule 21 of Central Excise Rules, 2002. It is settled principle of law that the taxing statute to be read as it is without addition or subtraction of the words to cull out the meaning - reliance placed in the case of M/s. Greatship (India) Ltd. Versus Commissioner of Service Tax, Oil and Natural Gas Company Ltd. [2015 (4) TMI 1006 - BOMBAY HIGH COURT], where it was held that It is equally settled that a taxing statute is required to be strictly construed. Common sense approach, equity, logic, ethics and morality have no role to play while interpreting the taxin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssion of duty involved on the same. While making the application, they reversed the CENVAT credit of the inputs used in or in relation of manufacture of such finished excisable goods. It is his contention that there is no lapse on their part as the inputs were duly utilized in the manufacture of finished goods, which later found to be unsalable because of expiry of shelf life. He submits that they have complied with the provisions of Rule 5C of CCR, 2004, by reversing the credit involved on the inputs used in the manufacture of finished goods on which duty had been remitted. 5. The Ld. AR for the Revenue reiterated the findings of the Ld. Commissioner (Appeals). 6. I find that the short question to be answered is, whether in the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Vs. Commissioner of Service Tax, Mumbai-I 2015 (39) STR 754 (Bom.) observed as:- "34. It would thus appear that it is settled position of law that in taxing statute, the Courts have to adhere to literal interpretation. At first instance, the Court is required to examine the language of the statute and make an attempt to derive its natural meaning. The Court interpreting the statute should not proceed to add the words which are not found in the statute. It is equally settled that if the person sought to be taxed comes within the letter of the law he must be taxed, however, great the hardship may appear to the judicial mind to be. On the other hand, if the Crown seeking to recover the tax, cannot bring the subject within the letter of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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