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2007 (11) TMI 202 - AT - Central ExciseAvailed credit on Furnace Oil, which is used as fuel for generation of electricity – reversed the credit on advice of audit team - After a year, they realized that the credit reversed was not in order so they re-credited the amount – credit denied by revenue on ground that assessee didn’t take permission before re-credit – held that no permission is needed for re-credit in respect of wrong reversal – moreover credit was reversed, only on erroneous advice given by audit officers
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