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2022 (12) TMI 308 - AT - Central ExciseDisallowance of service tax cenvat credit - disallowance of more than the amount received from the ISD (Head Office) - HELD THAT:- The appellant had taken cenvat credit of Rs. 1,10,11,284/-, out of which the amount disallowed by court below is (Rs.2,06,485/- (-) 16,716) or Rs. 1,89,769/-. That I find that the court below have wrongly disallowed cenvat credit of Rs.10,09,135/-. Thus the impugned order is modified and the amount of disallowance of cenvat credit is restricted to Rs. 1,89,769/-. It is been stated by the learned counsel that this amount has already been deposited with the revenue. Further, I find that the appellant is entitled to cenvat credit on ‘broker services’ and ‘depository service’, as held by the Commissioner(Appeals). The appeal is allowed and the impugned orders are modified - The penalty imposed is also set aside.
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