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2019 (5) TMI 1990 - AT - Central ExciseDemand of CENVAT credit utilized - balance credit of 2004 sought to be denied on the strength that sub Rule (3) of Rule 11 of Cenvat Credit Rules, 2004 - HELD THAT:- It is seen that sub-rule (3) of Rule 11 of Cenvat Credit Rules, 2004 was introduced vide Notification No. 10/2007 (NT) dated 01.03.2007 and thus cannot be made applicable retrospectively. Moreover, the said Rule applies only when the final product is exempted “absolutely”. In the instant case, the product manufactured by the appellant is fabric and yarn which is not exempt absolutely. Therefore, in these circumstances, this Rule is not applicable. There are no merit in the impugned orders and the same are set-aside. Appeals are allowed.
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