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2014 (5) TMI 530 - HC - Central ExciseCENVAT Credit - Whether on the facts and in the circumstance of the case the CESTAT, New Delhi was justified in law in holding that the extended period of limitation under proviso to Section 11A(1) of the Central Excise Act, 1944 readwith Rule 15(2) of the Cenvat Credit Rules, 2004 in the present case is not invokable as there was no intention of the assessee to evade payment of duty - Held that:- when the assessee cleared inputs on which cenvat credit had been availed of, it was required to reverse the credit equal to the duty of excise on the assessable value as determined by the original manufacturer at the time of removal of the goods, namely the credit originally taken and not the duty on transaction value at the time of sale of inputs. Hence, the credit of ₹ 22.20 lacs was found to be correct - Tribunal has also as a matter of fact found that when the audit team of the department visited the establishment, all the information had been duly made available by the assessee and hence, there was no intent to evade duty. Both on law and on facts, the view of the Tribunal is sustainable - Decided against Revenue.
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