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2017 (10) TMI 263 - CESTAT CHENNAITransfer of the inputs / capital goods to the EOU - credit not reversed - Held that: - the appellant unit namely SFL-III has to reverse the credit. Soon after being pointed out, the appellants have reversed credit of ₹ 15,49,876/- only - since the situation is entirely a revenue neutral situation, being inter-unit transfers, the penalty imposed is unwarranted - the penalties imposed u/r 15(2) of CENVAT credit Rules, 2004 read with Section 11AC of the CEA, 1944 set aside - decided partly in favor of appellant.
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