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2017 (6) TMI 263 - AT - Central ExciseCENVAT credit - the appellant had made provision for value of ₹ 46,35,057/- in respect of raw-materials in their financial records as on 31.03.2008 but failed to pay an amount equivalent to the cenvat credit taken in respect of the said inputs and therefore it appeared that they were liable for payment of an amount equivalent to the cenvat credit availed by them - Held that: - under Rule 3 of Cenvat Credit Rules there was no recovery mechanism prior to 01.03.2013 and therefore demanding the cenvat credit is not sustainable in law - the entire demand is time-bar because the show-cause notice was issued on 01.01.2010 for the provision to write off which was created in the financial records of the appellant as on 31.03.2008 which is beyond the period of limitation of one year - appeal allowed - decided in favor of appellant.
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