TMI Blog2016 (12) TMI 649X X X X Extracts X X X X X X X X Extracts X X X X ..... ailment of CENVAT Credit of the inputs by the assessee it he opts for such exemption notification. Since appellant has reversed the CENVAT Credit on the inputs attributable to the finished goods cleared by him availing he benefit of Notification No. 30/2004, I find that the exemptions cannot be denied. I find that the CENVAT Credit reversed need not be immediate, as correctly pointed out by the learned Counsel that the issue is now squarely settled by the judgment of the Tribunal in the case of Omkar Textile Mills [2013 (10) TMI 1298 - CESTAT AHMEDABAD]. Appeal allowed - decided in favor of appellant. - Appeal No. E/382/06 - - - Dated:- 1-11-2016 - Shri M.V. Ravindran, Member (Judicial) Shri Prasad Paranjape, Advocate for the App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ilment of CENVAT Credit of the inputs and hence benefit of Notification No. 30/2004 is available. 5. I have perused the records and find that the issue as stated by both sides is not disputed i.e. the appellant had availed CENVAT Credit on the inputs but reversed the attributable CENVAT Credit on the inputs of the finished goods when they were cleared without payment of duty under Notification No. 30/2004. There is no dispute that the appellant is eligible to avail benefit of Notification No. 30/2004. The only dispute is that the said notification has a condition which mandates for non availment of CENVAT Credit of the inputs by the assessee it he opts for such exemption notification. Since appellant has reversed the CENVAT Credit on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit or demand of duty for the period December 2004 to November 2005. It was, therefore, essential to provide the basis of short Cenvat reversal calculated by the Revenue. It is further pointed out by the advocate of the appellants that as per submissions dated 20-8-2013 filed by the Department now a credit of ₹ 55,94,675/-, ₹ 18,89,252/- and ₹ 19,77,942/- has been shown to be the balance credit required to be reversed by Appellant Nos. 1, 2 3 respectively. Though, it was not a subject matter of the show cause notices whether the quantum of credit reversed by the appellants was correct or not but by virtue of order dated 12-10-2010, this Bench granted the liberty to quantify the exact credit required to be reversed an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Only on the basis of ER-1 returns filed by the appellants the jurisdictional field formations could know that Cenvat credit with respect to inputs Dyes Chemicals used in relation to exempted goods was reversed. The quantum of reversal of Cenvat credit was never questioned by the Revenue. Once appellants declared the quantum of Cenvat credit reversed on the query of field formations, it cannot be held that there was any suppression on the part of the appellants with an intention to evade duty attracting extended period under proviso to Section 11A of the Central Excise Act, 1944. Accordingly, extended period of demand was not invokable in the present proceedings and show cause notices have also to be held as time-barred. 6. In view of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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