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2019 (8) TMI 201 - AT - Central ExciseUtilization of accumulated credit - lapse of accumulated credit - case of the department is that the appellant was issued show cause notice for the period December 2007 to March 2011, proposing elapsing credit of ₹ 2,86,83,157/- - HELD THAT:- There is no dispute that present demand is out of accumulated credit balance as on 01.03.2007 for which the proceedings were initiated by issuing show cause notice dated 03.04.2012. The Tribunal vide order No. A/10640-10642/2019 dated 04.04.2019 held that the accumulated credit of ₹ 2,86,83,157/- was not lapsed by interpreting Rule 11 (3)(i) of Cenvat Credit Rules, 2004. Since the proposal of elapsing accumulated credit itself has been set aside, the utilization for the credit out of such accumulated credit cannot be questioned. Appeal allowed - decided in favor of appellant.
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