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2010 (4) TMI 1036 - PUNJAB AND HARYANA HIGH COURTCENVAT credit - subsequently exempted final goods - Tractors and parts used within the factory production for manufacturing of final goods - amendment of the scheme vide Notification dated 09.07.2004 - whether Cenvat credit availed by a dealer on such quantity of duty-paid inputs, which is used in the manufacture of subsequently exempted final goods, is liable to be reversed or not? - Held that: - it is not a matter of dispute that the assessee has paid the duty on inputs used in the indicated manufacturing of final goods, the assessee has maintained separate accounts/record, duly entered credit of duty-paid on the inputs in manufacture of final goods and validly availed the Cenvat credit. Therefore, the same cannot be reversed on the ground that the final product (i.e. agricultural Tractors) were subsequently exempted from tax - the assessee is held entitled to the benefit of Cenvat credit - appeal dismissed - decided against Revenue.
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