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2014 (12) TMI 118 - CESTAT MUMBAICENVAT Credit - reversal of credit on obsolete inputs / WIP - suppression of fact - Invocation of extended period of limitation - effective date of introduction of Rule 3(5B) of the Cenvat Credit Rules by Notification NO. 26/2007-CE(NT) dated 11.5.2007 - Held that:- Issue on merits is already settled in favour of the respondent as is evident from the judgment of the Hon'ble Bombay High Court in the case of Hindalco Industries Ltd.(2011 (6) TMI 662 - BOMBAY HIGH COURT) as also by the Hon'ble Gujarat High Court in the case of Ingersoll Rand (India) Ltd. (2013 (2) TMI 32 - GUJARAT HIGH COURT), wherein the Hon'ble Courts have taken the view that the said provisions are applicable only from the date of introduction. The demand in this case is for the period prior to the date of introduction. I also find that the Revenue has not been able to elaborate what is the misrepresentation or misstatement done by the respondent. Similarly, I do not find any suppression of fact with intention to evade duty in the whole case - Decided against Revenue.
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