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2008 (7) TMI 167 - AT - Central ExciseSuo motu re-credit of reversed credit earlier credit was reversed without any verification on basis of direction of audit officers recredit amounts to merely adjustment of credit transaction not amounts to payment of duty hence recredit was justified in respect of returned goods, Commissioner has given the categorical finding that it was not manufacturing hence credit taken is required to be revered at clearance since credit was utilized incorrectly, penalty is imposable
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