https://www.taxtmi.com/caselaws?id=121787 An exemption option under Notification No. 9/2003-CE had to be exercised before the first clearance and could not be withdrawn during the financial year. The assessee's payment of duty at the full rate mid-year, before crossing the prescribed clearance limit and through Cenvat credit, was treated as an impermissible withdrawal of that option. Because the arrangement was used to pass higher credit to buyers and resulted in revenue loss, the excess Cenvat credit was held irregular and recoverable. The demand was sustained and the Revenue's position accepted. en-us Wed, 06 Jun 2007 00:00:00 +0530 Mon, 06 Aug 2012 13:06:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121787 An exemption option under Notification No. 9/2003-CE had to be exercised before the first clearance and could not be withdrawn during the financial year. The assessee's payment of duty at the full rate mid-year, before crossing the prescribed clearance limit and through Cenvat credit, was treated as an impermissible withdrawal of that option. Because the arrangement was used to pass higher credit to buyers and resulted in revenue loss, the excess Cenvat credit was held irregular and recoverable. The demand was sustained and the Revenue's position accepted. Case-Laws Central Excise Wed, 06 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121787