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2014 (2) TMI 497 - AT - Central ExciseReversal of CENVAT Credit - Credit availed in routine manner - invoking extended period of limitation after reversal of credit - Held that:- appellant took the credit on 31.03.2007 and reversed the same on 30.04.2008. As per the appellant, the credit was taken by their employees in a routine manner without realising that the same was not available to them. On being pointed out by the audit, the appellant immediately reversed the same. It is also a fact that the credit remained unutilised and such as they were paper entry only during the relevant period. Where the credit remains unutilised and on paper entry only, the same would not attract any interest or penalty - demand barred by limitation. Admittedly, the excess credit taken by the appellant was reversed on 30.04.2008 and as such the Revenue was in the knowledge of the same. In spite of that, issuance of Show Cause Notice in the year 2010 by invoking extended period of limitation was not justifiable - Decided in favour of assessee.
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