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2012 (5) TMI 548 - AT - Central ExciseDeemed credit - Notification No. 29/96-C.E. (N.T.) - Held that:- Admittedly the credit was availed in terms of Notification No. 29/96-C.E. (N.T.) which was rescinded vide Notification No. 24/2000-C.E. (N.T.), dated 1-4-2000. With the rescinding of the Notification, the credit availed in terms of earlier Notification also lapsed. The appellant was not covered under the subsequent Notification issued under Rule 57A of Central Excuse Rules, 2002 as they were working under compounded levy scheme. As such I hold that the appellant was not entitled to carry forward the balance credit of Rs. 29,352/-. Accordingly I confirm the same. However, in respect of penalty of Rs. 2,000/-, I find that this is not the case involving any mala fide - Decided in favour of assessee.
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