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2015 (10) TMI 877 - AT - Central ExciseDenial of CENVAT Credit - Non maintenance of separate accounts - contravention of the provision of Rule 6 of the CENVAT Credit Rules, 2004 - Invocation of extended period of limitation -held that:- When the audit objection was raised they have already reversed the CENVAT Credit attributable to coal handling charges which was ultimately used for generation of steam, which was used for generation of electricity, which was ultimately used for manufacture of final exempted product along with interest. In that circumstances, the show cause notice was not required to be issued. Ld. counsel for the appellant has also contested the issue of limitation to say that when periodical audits were conducted, extended period of limitation is not invokable. But he fairly conceded that if reversal of CENVAT Credit along with interest is found to be sufficient in that case, he will not contest the issue of limitation. As observed hereinabove, we hold that the CENVAT Credit reversed by the appellant along with interest is sufficient in this matter as per the Finance Act, 2010 and the show cause notice was not required to be issued. Therefore, impugned proceedings against the appellant are set aside - Decided in favour of assessee.
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