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2012 (9) TMI 857 - AT - Central ExciseCENVAT Credit - Instead of availing 50% of cenvat credit on the capital goods received in the year, appellant has availed 100% cenvat credit during the three financial years 2005-06, 2006-07 and 2007-08 - Held that:- There was no need for demanding the wrong credit taken in this case instead the appellant could have been asked to work out the eligible amount of credit in each year and pay interest for the inadmissible credit availed by them. The offer made by the learned advocate to recalculate the credit admissible and to work out the amount of interest payable, is fair and acceptable - Accordingly, the demand for cenvat credit is set-aside and appellant is directed to calculate the credit admissible year-wise and interest payable by them and pay the same within sixty days from the date of receipt of this order and report compliance to the jurisdictional Central Excise office - Decided in favour of assessee.
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