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2015 (12) TMI 1051 - AT - Central ExciseBenefit of cenvat credit - Simultaneous benefit of Notification No. 30/2004-CE and Notifications 29/2004 - Non maintenance of separate accounts - Held that:- Appellant can avail the benefit of both the Notifications i.e. 29/2004-CE and 30/2004-CE, at the relevant time of clearing the final product. It is also not in dispute that the appellant has been availing the cenvat credit only to the extent of 20% of the duty paid on various inputs and forgoing the credit to the extent of 80% based on their ratio of turnover of dutiable goods vis-a-vis the exempted goods. This position is reflected in their accounts also. The appellant has been maintaining the requisite records in respect of receipts and consumption of inputs and availment and utilization of cenvat credit. Here it is pertinent to mention the circular issued by the Board vide Circular No.703/19/2003-CX dated 25.3.2003 issued in the wake of revamping of central excise duty structure for textile industry by Finance Budget 2003. Appellant's case is fully covered by the circular cited above. Moreover, the benefit of credit is sought to be denied on purely technical grounds. It is settled law that substantive benefit cannot be denied merely on technical grounds - impugned order is liable to be set aside - Decided in favour of assessee.
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