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2020 (3) TMI 195 - AT - Central ExciseCENVAT Credit - cutting and slitting of CR Coils - process amounting to manufacture or not - HELD THAT:- It is an admitted fact that after cutting and slitting of CR coils converting into sheets, the appellants have cleared the goods on payment of duty, therefore, in terms of the decision of the Hon’ble Bombay High Court in the case of THE COMMISSIONER OF CENTRAL EXCISE, PUNE VERSUS AJINKYA ENTERPRISES [2012 (7) TMI 141 - BOMBAY HIGH COURT] wherein it has been held that when the goods have been cleared on payment of duty after utilizing the Cenvat credit and the same will be termed as reversal of Cenvat credit, therefore, we hold that payments of duty by the appellant shall amounts to reversal of Cenvat credit sought by the revenue in the show cause notice. Appeal allowed - decided in favor of appellant.
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