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2015 (8) TMI 249 - HC - Central ExciseReversal of CENVAT Credit - Credit on common inputs - Non maintenance of separate accounts - Procedure under Rule 57CC (9) is not complied with - Whether the Tribunal is justified in allowing the appeal when Rule 57CC (1) of Central Excise Rules, 1944 is straight away attracted and when sub-rule (9) is not complied with - Held that:- For claiming the benefit under Section 57CC (9) of the Act, the manufacturer has to maintain separate books of accounts, sub-section (2) to Section 73 of the Finance Act, 2010 mandates that the assessee has to make an application to the Commissioner of Central Excise along with documentary evidence and a Certificate from the Chartered Accountant or a Cost Accountant, certifying the amount of input credit attributable to the inputs used in or in relation to the manufacture of exempted goods within a period of six months from the date on which the Finance Bill, 2010 received the assent of the President. However, in the present case, even as per the show cause notice and the order of adjudication, it is clear that the input credit has been reversed by the respondent/assessee even prior to the amendment. In such view of the matter, the Tribunal, following the decision of the Allahabad High Court in Hello Mineral Water case (2004 (7) TMI 98 - HIGH COURT OF JUDICATURE AT ALLAHABAD), which followed the decision of the Apex Court in Chandrapur Magnet Wires case (1995 (12) TMI 72 - SUPREME COURT OF INDIA) rightly set aside the demand. - Decided against Revenue.
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