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2017 (9) TMI 498 - AT - Central ExciseCENVAT credit - whether sou moto reversal of CENVAT credit amounts to non-availment of CENVAT credit? - Held that: - the Hon’ble Supreme Court in the case of Chandrapur Magnet Wires (P) Ltd. Versus Collector of Central Excise, Nagpur [1995 (12) TMI 72 - SUPREME COURT OF INDIA], has ruled that if Cenvat credit is availed and the same is reversed before utilization of the same then it will amount as if Cenvat credit was not availed - Cenvat credit was reversed on 01/03/2011 and therefore, the said Cenvat credit of ₹ 31,31,991/- was not availed by the respondent as on 02/03/2011 - appeal dismissed - decided against Revenue.
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