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2012 (9) TMI 820 - AT - Central ExciseTime limit for availing Cenvat credit - Credit availed in the year 2009 for the period from October 2004 to March 2009 - Held that - No where in the Central Excise Act as well as in the Cenvat Credit Rules not prescribed any period in which credit has to be taken. Although it is mentioned in the Cenvat Credit Rules that assessee can take the credit immediately, but there is no prescribed time limit. - in favour of assessee.
The Appellate Tribunal CESTAT Chennai allowed the appeal filed by the appellants regarding the denial of Cenvat credit for the period from October 2004 to March 2009. The Tribunal held that there is no prescribed time limit for taking the credit under the Central Excise Act or Cenvat Credit Rules. The order imposing penalty and interest was set aside, and the appeal was allowed with consequential relief.
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