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2018 (5) TMI 812 - AT - Central ExciseCENVAT credit availed on AED (GSI) and AED (T&TA) - N/N. 30/2004-CE dated 09.07.2004 - Held that: - Ld. Commissioner (Appeals) upheld the order of the Adjudicating Authority observing that the Cenvat credit availed on AED (GSI) and AED (T&TA), lying in balance, as on the date of exercising option to avail the exemption under N/N. 30/2004-CE dated 09.07.2004, would lapse. A plain reading of the Sub-Rule (2) of Rule 9 it is clear that it is applicable only to cases, when the assessee has availed value based exemption - Hon ble Karnataka High Court in the case of CCE, Bangalore-II vs. Gokaldas Intimate Wear [2011 (4) TMI 1123 - KARNATAKA HIGH COURT] observed that Sub-Rule (3) of Rule 11 of the Cenvat Credit Rules brought into force by N/N. 10/2007-CE w.e.f. 01.03.2007, and would be applicable prospectively. The impugned order is modified to the extent of upholding confirmation of the demands of Cenvat Credit of 83,665/- and ₹ 35,340/- and the demands of ₹ 15,81,781/- and ₹ 24,42,530/- are set-aside - appeal allowed in part.
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