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2019 (11) TMI 484 - AT - Central ExciseCenvat CREDIT - closing stock of inputs and inputs contained in the final/finished goods as on 31.03.2005 - reversal of CENVAT Credit sought on the ground that the appellant had moved out of CENVAT scheme and opted for exemption under N/N. 08/2003-C.E. dated 01.03.2003 - HELD THAT:- The issue is no more res integra, as submitted by the Ld. Consultant for the appellant, since the very jurisdictional High Court in the case of M/s. Tansi Fabrication Works [2018 (7) TMI 1371 - MADRAS HIGH COURT] after considering the decision of the Hon’ble Apex Court in M/s. COLLECTOR OF CENTRAL EXCISE, PUNE VERSUS DAI ICHI KARKARIA LTD. [1999 (8) TMI 920 - SUPREME COURT] and also the decision of the Hon’ble Punjab and Haryana High Court in the case of Commissioner of C.Ex., Chandigarh Vs. M/s. C.N.C. Commercial Ltd. [2007 (10) TMI 203 - HIGH COURT PUNJAB AND HARYANA] has concluded that the petitioner therein having rightly availed the CENVAT Input Credit originally, could not be called upon to reverse the same merely because it was stepping into exemption regime. There was no reversal required, as demanded by the Revenue - The impugned order therefore cannot sustain and is accordingly set aside. Extended period of limitation - HELD THAT:- The Revenue has even failed to justify invoking the extended period of limitation since, the Show Cause Notice is issued beyond the normal period; the period is 01.04.2005 whereas the Show Cause Notice came to be issued in January 2008 i.e., after nearly three years and that the appellant had at least a year before filed its reply - Moreover, the alleged suppression is based on statutory documents like P&L Account and balance-sheet and no new or external materials/documents were used or even an independent report for that matter, to allege such suppression - extended period cannot be invoked. Appeal allowed - decided in favor of appellant.
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