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2009 (2) TMI 153 - AT - Central ExciseReversal of Cenvat Credit – goods become exempted after availing cenvat credit on inputs - there were no provisions in the statute to recover any amount of CENVAT credit availed or utilized in accordance with relevant provisions. Deciding a similar dispute as on hand the Tribunal decided that ‘input-credit legally taken and utilized on the dutiable final products, need not be reversed on the final products becoming exempt subsequently with effect from 9-7-04. In the result, demands for recovery of CENVAT credit relatable inputs and work-in-progress and final products in stock on 9-7-04 with the assessees are not sustainable. The appeals filed by Revenue are dismissed. The appeals of the assessees and cross-objections filed by M/s. Shalom Garments (P) Ltd. are allowed with consequential relief.
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