2018 (2) TMI 1316 – GUJARAT HIGH COURT – 2018 (13) G. S. T. L. 261 (Guj.) – Interpretation of statute – suo moto re-credit – Whether in the facts and circumstances of the case and law, the Hon'ble Tribunal has committed substantial error of law in allowing the Appeal of the Respondent and in interpreting provision of Sec. 11 B of Central Excise Act 1944, by allowing to the Respondent to avail suomotu recredit of cenvat, by acknowledging it as only adjustment of books of entry?
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Held that: – this was not the case of the assessee suomotu availing recredit but a case of mere correction of incorrectly made entries on the very same day – issue is completely factual – appeal dismissed. – Tax Appeal No. 24 of 2018 Dated:- 15-2-2018 – MR. AK
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he Appellants after reversal of CENVAT Credit on 30.09.2010 on the same date, availed the credit again which the learned Advocate for the Appellant claims to have reversed earlier erroneously and there is no dispute on the admissibility of credit in the impugned order. Therefore, it is not a question of taking suo moto recredit of the reversed amount over a period of time without filing the refund claim, but adjustment of books of entry on the same day, by way of correction in the books of accounts and that too before filing the monthly Return. In these circumstances, the observations of the Tribunal in the case of S. Subramanyan & Co (supra) is squarely applicable to the facts of the present case and the principle laid down by the Larg
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