TMI Blog2014 (11) TMI 390X X X X Extracts X X X X X X X X Extracts X X X X ..... CMC Corporation Ltd., Chennai Vs. CCE, Chennai [2014 (1) TMI 1473 - MADRAS HIGH COURT] that in the case of wrongly debited Cenvat Credit suo moto credit can be taken and there is no need to file the refund claim under Section 11B of the Central Excise Act, 1944. A similar view was earlier taken by the Jurisdictional High Court of Gujarat in the case of M/s. Shyam Textile Mills & Anr. Vs. UOI [2004 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16.05.2013 passed by the adjudicating authority. The issue involved in the present appeal is whether appellant can take suo moto credit of the Cenvat Credit once reversed and also whether Cenvat Credit with respect to services of Initial Public Offer (IPO) is admissible to the appellant. 2. Shri Dhaval K. Shah (Advocate) appearing on behalf of the appellant argued that IPO is a system of procu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1944. He also relied upon the following case laws: (i) ICMC Corporation Ltd., Chennai Vs. CCE, Chennai [2014-TIOL-121-HC-MAD-CX] (ii) Shyam Textile Mills and Anr. Vs. UOI Ors. [2005 (67) RLT 488 (Guj.)] (iii) Sopariwala Exports Pvt. Ltd. Vs. CCE, Vadodara-I [2013 (291) ELT 70 (Tri. Ahmd.)] (iv) CCE, Bangalore-III Vs. Motorola India Pvt. Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21-HC-MAD-CX] that in the case of wrongly debited Cenvat Credit suo moto credit can be taken and there is no need to file the refund claim under Section 11B of the Central Excise Act, 1944. A similar view was earlier taken by the Jurisdictional High Court of Gujarat in the case of M/s. Shyam Textile Mills Anr. Vs. UOI [2005 (67) RLT 488 (Guj.)]. On merits also a stay on the same issue was given ..... X X X X Extracts X X X X X X X X Extracts X X X X
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