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2017 (11) TMI 604 - AT - Central ExciseCENVAT credit - exempt final products - whether on payment of duty on exempt goods, the assessee is further required to reverse the credit? - Held that: - the First Appellate Authority’s view as to discharge of duty liability on the finished goods which are exempted, cannot be considered as reversal of Cenvat credit is contrary to the law settled by the judgment of Hon’ble High Court of Bombay in the case of Ajinkiya Enterprises [2012 (7) TMI 141 - BOMBAY HIGH COURT], where it was held that the assessee paid duty on decoiled HR/CR coils knowing fully well that the same were not manufactured goods. If duty on decoiled HR/CR coils was paid bona fide, then availing credit of duty paid on HR/CR coils cannot be faulted - appeal allowed - decided in favor of appellant.
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