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2017 (1) TMI 157 - AT - Central ExciseDisallowance of Cenvat credit - Interest - Penalty - Held that: - I do not understand on what basis the original authority disallowed ₹ 2,03,462/- when the same officer held that credit of ₹ 26,93,931/- is eligible. I do not find any logic in allowing part of the credit and disallowing a portion of ₹ 2,03,462/- on the ground that it has not been utilized prior to 01/03/2008. The assessee was under bona fide belief that the process undertaken by them amounted to manufacture. They took registration, paid excise duty and also availed credit on inputs - The assessee can utilize this credit taken prior to 01/03/2008 for paying the duty on the products which have become excisable after 01/03/2008 - Decided in favor of the assessee.
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