Irregular CENVAT Credit availment cannot be alleged without any evidence & merely based on statements of transporters

AIC Iron Industries Private Limited Vs Commissioner of CGST & CX (CESTAT Kolkata) The first issue involved in this case is whether the Appellant had availed irregular CENVAT Credit as arrived by the Department holding that it was paper transaction without receipt of raw materials. Second issue is whether under the circumstances and the facts on record, extended period of limitation can be invoked. I find that there is no other evidence on record of cash flow-back or any inculpatory statement to substantiate that CENVAT Credit was taken irregularly based on paper transaction i.e. without re...