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2015 (7) TMI 1207 - CESTAT AHMEDABADReversal of CENVAT credit - It has been alleged that the appellants were having loose stock inputs of finished products as on 1-3-2005 on which they have availed Cenvat credit, but they have cleared subject goods at nil rate of duty without reversing the Modvat credit availed by them - Held that: - the input credit legally taken and utilized on the dutiable final products need not be reversed on the final product becoming exempt subsequently with effect from 1-3-2005 - credit allowed - penalty set aside - appeal allowed - decided in favor of assessee.
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