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2014 (8) TMI 886 - AT - Service TaxWaiver of pre deposit - Adjustment of excess credit taken in subsequent year - Bar of limitation - Held that:- Though the CENVAT Credit Rules do not provide for adjustment of excess credit taken in a given year, against the short credit taken during the subsequent year, in the facts of the case before us, it is evident that the appellant had taken excess credit of ₹ 1.01 crores in 2008-09 as against short credit availed of ₹ 1.11 crore during 2009-10. The mistake has occurred only due to rounding off of the percentages of the credit to the nearest decimal. Thus, there is no evidence forthcoming from the records that the taking of credit was on account of any intention to evade service tax. The show cause notice has been issued invoking the extended period of time. Therefore, the appellant has made out a prima facie case on account of time-bar. Accordingly, we grant unconditional waiver from pre-deposit of the dues adjudged against the appellant and stay recovery thereof during the pendency of the appeal. - Stay granted.
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