https://www.taxtmi.com/caselaws?id=124276 Where inputs are cleared as such, reversal of the Cenvat credit was treated as sufficient compliance under the governing rule as interpreted by binding precedent. The Revenue's insistence on payment of an amount equal to duty over and above credit reversal was rejected because the Larger Bench view on Rule 3(5) of the Cenvat Credit Rules, 2004 was applied consistently to the earlier period in dispute, and the cited circular did not displace that reasoning. The demand was not sustained, and the impugned order was set aside. en-us Wed, 30 Jul 2008 00:00:00 +0530 Thu, 27 Sep 2012 14:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124276 Where inputs are cleared as such, reversal of the Cenvat credit was treated as sufficient compliance under the governing rule as interpreted by binding precedent. The Revenue's insistence on payment of an amount equal to duty over and above credit reversal was rejected because the Larger Bench view on Rule 3(5) of the Cenvat Credit Rules, 2004 was applied consistently to the earlier period in dispute, and the cited circular did not displace that reasoning. The demand was not sustained, and the impugned order was set aside. Case-Laws Central Excise Wed, 30 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124276