TMI Blog2015 (10) TMI 877X X X X Extracts X X X X X X X X Extracts X X X X ..... tested the issue of limitation to say that when periodical audits were conducted, extended period of limitation is not invokable. But he fairly conceded that if reversal of CENVAT Credit along with interest is found to be sufficient in that case, he will not contest the issue of limitation. As observed hereinabove, we hold that the CENVAT Credit reversed by the appellant along with interest is sufficient in this matter as per the Finance Act, 2010 and the show cause notice was not required to be issued. Therefore, impugned proceedings against the appellant are set aside - Decided in favour of assessee. - Appeal No. E/56673/2013-EX(DB) - - - Dated:- 14-7-2015 - Ashok Jindal, Member (J) And B Ravichandran, Member (T), JJ. For the Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before us. 2. Ld. counsel for the appellant submits that at the time of audit, it was pointed out to them that for generation of steam which has been used for generation of electricity which was ultimately used for manufacture of final exempted product, they are not entitled to take CENVAT Credit on the service of coal handling. At that time, the appellant reversed the CENVAT Credit attributable to coal handling services along with interest. Therefore, the said reversal is required sufficient and the proceedings were not required to be initiated against the appellant. Although the proceedings have been initiated against the appellant by issuance of show cause notice by invoking the extending period of limitation, the same are not sustain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was raised they have already reversed the CENVAT Credit attributable to coal handling charges which was ultimately used for generation of steam, which was used for generation of electricity, which was ultimately used for manufacture of final exempted product along with interest. In that circumstances, the show cause notice was not required to be issued. Ld. counsel for the appellant has also contested the issue of limitation to say that when periodical audits were conducted, extended period of limitation is not invokable. But he fairly conceded that if reversal of CENVAT Credit along with interest is found to be sufficient in that case, he will not contest the issue of limitation. As observed hereinabove, we hold that the CENVAT Credit rev ..... X X X X Extracts X X X X X X X X Extracts X X X X
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