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2017 (10) TMI 956 - CESTAT NEW DELHIDemand of duty with interest and penalty - it was alleged that as the assessee has failed to reverse the Cenvat Credit on inputs contained in semi finished goods i.e. the work in progress or inputs lying in stock, therefore, contravening the provisions of Rule 11(2) and 11(3) of the Cenvat Credit Rules 2004 - Held that: - the fact is on record that the said Cenvat Credit was never used or utilized by the assessee for subsequent clearances - unutilized Cenvat credit lying in their Cenvat Credit account shall lapse in terms of Rule 11(2), 11(3) of Cenvat Credit Rules 2004. As the Cenvat Credit has not been utilized by the assessee therefore, no demand can be made against the assessee. No demand is sustainable against the assessee, therefore the penalty does not arise. Appeal allowed - decided in favor of assessee.
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