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2013 (9) TMI 292 - AT - Service TaxWrong Utilization of CENVAT Credit - Lapsed Credit - The department was of the view that the appellant could not have utilised the Cenvat Credit as the credit which accumulated prior to 01/06/2007 lapsed and therefore, utilisation of lapsed credit was wrong under Rule 14 of the Cenvat Credit Rules, 2004 read with Section 73 of the Finance Act, 1994 - Held that:- There was no specific exclusion of any inputs/input services under Rule 6(3) or under Rule (3) of the Cenvat Credit Rules - There was no provision of law to come to such a conclusion - The CBE and C's Circular also confirmed that the accumulated credit would not lapse and Rule 6 (3) does not bar utilisation of accumulated credit and therefore, the department should not deny utilisation of the accumulated credit by the assessee after 01/04/2008 – Waiver of Pre-Deposit - The appellant had made out a strong prima facie case for grant of stay - unconditional waiver from pre-deposit of dues was allowed and stay granted during the pendency of the appeal – Decided in favour of Assesse.
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