TMI Blog2014 (2) TMI 526X X X X Extracts X X X X X X X X Extracts X X X X ..... CENVAT credit availed by the appellant appears to fulfill the obligation under Notification No. 1/2006-ST of not availing the CENVAT credit for entitlement to the benefit of Notification - Appellant has made out a strong prima facie case in their favour for wavier of predeposit and grant of stay - Stay granted. - Appeal No.: ST/2036/2011 - - - Dated:- 14-3-2013 - Mr. P.G. Chacko and Mr. B.S.V. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1/2006-ST and the impugned order has been passed confirming the demand of service tax of more than Rs. 1.72 crores with interest. Penalty under Section 76 of Finance Act 1994 has also been imposed. 2. The learned advocate submitted that even though they have detailed submissions to make with regard to their claim under Notification No. 1/2003-ST and also their claim that they can pay duty under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d counsel. 3. After considering the submissions and the decision cited by the learned counsel, we find that in the decision cited by the counsel a view has been taken that if the CENVAT credit is reversed subsequently also, it amounts to the credit not being taken initially. Therefore, prima facie, the subsequent reversal of CENVAT credit availed by the appellant appears to fulfill the obligatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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