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2015 (10) TMI 1139 - CESTAT AHMEDABAD

2015 (10) TMI 1139 - CESTAT AHMEDABAD - TMI - CENVAT Credit - exemption under Notification No.30/2004-CE, dt.09.07.2004 - Held that:- Appellant has already reversed the credit lying in their CENVAT account before issue of the Show Cause Notice - It is consistently viewed by the Tribunal that the benefit of Notification No.30/2004-CE cannot be denied on the ground that CENVAT Credit was reversed after clearance of the goods. It is noticed that in the present case, the Appellant reversed the credi .....

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: Shri K. Sivakumar, Authorised Representative Per: P.K. Das 1. The relevant facts of the case, in brief, are that the Appellants were engaged in the manufacture of Polyester Staple Fibre, Blended Yarn, and Man Made Staple Fibre, classifiable under Chapter 55 of the Central Tariff Act, 1985. On 24.03.2006, the Appellant opted exemption Notification No.30/2004-CE, dt.09.07.2004. The Central Excise Officers Audit party during the visit detected that the Appellant had not reversed the amount of CEN .....

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ting the exemption notification. By the impugned adjudication order, the Adjudicating authority denied the benefit of exemption notification and confirmed the demand of ₹ 2,45,18,543.00 alongwith interest and imposed penalty of equal amount of duty. 2. After hearing both the sides and on perusal of the records, we find that the Appellant has already reversed the credit lying in their CENVAT account before issue of the Show Cause Notice. It is noted that on the identical issue, the Tribunal .....

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