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2021 (8) TMI 1144 - AT - Central ExciseReversal of cenvat credit - inputs used for the output goods supplied to BHEL - Job-Work - exemption availed under N/N. 06/2006-CE dated 01.03.2006 - applicability of rule 14 of the cenvat credit rules, 2004 - HELD THAT:- Rule 9(1) applies when the appellant took credit for the first time, before reversing the same on the instructions of the Superintendent. When the appellant took suo-moto re-credit, the same amounts to only correction of accounts, to which Rule 9(1) has no application - it is held that Rule 6(6) is squarely applicable in the present case, and therefore the credit was rightly taken by the appellant. On this conclusion, it is held that reversal of credit was not required and hence the demand of cenvat credit, interest and penalty under rule 14 of the cenvat credit rules, 2004 cannot be sustained. The orders passed by the lower authorities regarding demand of cenvat credit, interest and penalty are therefore set-aside. The amount of ₹ 18,86,138/- deposited by the appellant consequent to rejection of stay application by this Tribunal, is directed to be refunded along with interest in accordance with law. The interest is held payable u/s 35FF from the date of deposit to the date of Refund @12% p.a. - appeal allowed.
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