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2017 (3) TMI 164 - CESTAT HYDERABADCENVAT credit - wrongful availment - penalty - purchases from EOUs who are charging duties after availing exemption in terms of Sl. No.2 of N/N. 23/2003-CE dated 31.03.2003 - credit has to be availed as per the formulae prescribed u/r 3(7)(a) of CCR, 2004 - Held that: - the excess credit happened to be availed by the credit only because of the wrong application of formulae - there were divergent views with regard to the interpretation and the application of the formulae. The appellants have reversed the credit immediately on pointing out the same by the department. Therefore there is no evidence to establish any suppression of facts with an intention to evade payment of duty - penalty set aside - appeal allowed - decided in favor of appellant.
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