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2015 (10) TMI 2073 - AT - Central ExciseReversal of CENVAT Credit - removal of inputs as such - determination of amount to be reversed - transaction value - Held that:- Show cause notice was issued for the extended period of limitation.There are various Board Circulars on this issue, which was decided by the Larger Bench of the Tribunal in the case M/s Eicher Tractors (2005 (9) TMI 340 - CESTAT, NEW DELHI), as distinguished in the decision of M/s National Engg India Ltd Vs CCE Jaipur I - [2010 (4) TMI 674 - CESTAT, NEW DELHI]. Recently, the Tribunal in the case of M/s Panasonic AVC Networks India Co Ltd (2013 (11) TMI 980 - CESTAT NEW DELHI) passed order on the identical issue following the decision of the Larger Bench which was upheld by the Hon’ble High Court. Thus, the appellant acted on bonafide belief and the demand of duty alongwith interest for the extended period of limitation cannot be invoked. The Learned Advocate submits that the entire demand is barred by limitation. - Impugned order is set aside - Decided in favour of assessee.
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