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2015 (8) TMI 1334 - AT - Central ExciseDemand - Penalty - Reversal of CENVAT credit - Slow moving stock - Notification No.26/2007-CE(NT), dated 11.05.2007 - The credit availed by the appellant was in accordance with the CENVAT statute, and in absence of any specific provision requiring the appellant to reverse the credit availed on the inputs, confirmation of duty demand is against the principles of law - Since there is no provision existed in the CENVAT Credit Rules for reversal of CENVAT credit at the material time reversal of credit cannot be insisted, relying upon the circular issued by CBEC - Appeal allowed.
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