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TMI Blog2022 (12) TMI 905X X X X Extracts X X X X X X X X Extracts X X X X ..... observed that it has been mentioned in the certificate that the company purchases various trading items from various parties by payment of Central Excise duty on prevailing rate. It has been certified that the Company maintains separate register for purchase of trading items. It has been consistently observed by the Tribunal and the Superior Courts that, when separate records are maintained for taxable/exempted items, there is no occasion to reverse the proportionate Cenvat Credit. In the present case, the appellants have all along submitted that they maintained separate records for trading items and this was brought to the notice of the authorities below. Further, the appellant is filling all the statutory returns and therefore the al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Excise Act, 1944. Penalty of equal amount was also imposed. Being aggrieved, the appellant filed the appeal before the First Appellate Authority and the Ld. Commissioner (Appeals) upheld the Order of the Adjudicating Authority. Hence, the present appeal before the Tribunal. 3. Heard both sides and perused the appeal records. 4. The Appellant s Company filed a Chartered Accountant s Certificate dated 25/04/2022 which is reproduced below:- To WHOM IT MAY CONCERN 1. M/s. Universal Bituminous Industries Pvt. Ltd., CIN U24100WB2006PTC108585 having registered office at 12, B.B.D. Bag (East), Kolkata-700001 and factory at PO Vill. Jala Dhulagory, Howrah-711302, NH6, India engaged in Trading various items, out of which major i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tants are in agreement with the figures depicted in Annexure-A along with Exhibits 1. (iv) A list of items traded in b the company during the financial year 2013-14 is enclosed for reference as Annexure-B with total value of purchases sales of trading items during the year. (V) I have checked sample invoices of purchase sale of trading items and enclosing specimen invoices of the same for references as Annexure-C D . For B. N. Jha Associates Chartered Accountants (FRN-331925E) Date : 25.04.2022 Place: Kolkata B. N. Jha Proprietor Membership No.051508 UDIN-22051508AHTMHN5203 4.1. I also observe that the above certificate was filed before the Ld. Commissioner (Appeals) but the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en separate records are maintained for taxable/exempted items, there is no occasion to reverse the proportionate Cenvat Credit. In the present case, the appellants have all along submitted that they maintained separate records for trading items and this was brought to the notice of the authorities below. Further, the appellant is filling all the statutory returns and therefore the allegation of fraud, collusion or any willful mis-statement or suppression of facts or contravention of any of the provisions of the Act or of the Rules made thereunder with an intent to evade payment of duty is unwarranted. I do not find any such ingredient in the facts of the present case. 5. In view of the above discussion, the impugned orders are set aside, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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