2015 (10) TMI 984

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..... to reverse or not - Held that:- at the time when appellant took Cenvat Credit on the inputs / capital goods their final product was dutiable and later on they opted for availing exemption under notification no. 50/2003. Therefore, they are not required to reverse Cenvat Credit on input / inputs contained in work-in-progress / finished goods lying in their factory. - Impugned order is set aside - D .....

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..... s contained in work-in-progress and final product the appellant is required to reverse Cenvat Credit thereon. In these set of facts, proceedings were initiated. Appellant paid the amount on reversal of Cenvat Credit from PLA and thereafter they filed refund claim of the amount of Cenvat Credit paid by them through PLA. The said refund claim was rejected by both the lower authorities relying on the .....

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..... re, issue is settled in their favour in the case of HMT (Supra) by the Larger Bench of this Tribunal. He further submits that decision of this Tribunal was taken up by the Revenue before Hon'ble High Court of Punjab Haryana reported in Central Excise Appeal No. 100 of 2008, Hon'ble High Court has affirmed the view of this Tribunal taken by the Larger Bench of this Tribunal. He further su .....

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..... . In the case of Apco Pharma Ltd. (Supra) the issue came up before the Hon'ble High Court of Uttarakhand which is the jurisdictional High Court wherein the Hon'ble High Court has observed as under: Upon hearing the ld. Counsel for the parties, the Court is of the view that the scheme of Cenvat Credit Rules makes it apparently clear, especially rule 4, that Cenvat Credit in respect of i .....

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..... through the above findings we hold that at the time when appellant took Cenvat Credit on the inputs / capital goods their final product was dutiable and later on they opted for availing exemption under notification no. 50/2003. Therefore, they are not required to reverse Cenvat Credit on input / inputs contained in work-in-progress / finished goods lying in their factory. 8. In these circumsta .....

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