https://www.taxtmi.com/caselaws?id=125913 Proportionate reversal of Cenvat credit attributable to exempt clearances was treated as sufficient compliance on the facts, because the assessee had taken credit only on duty-paid indigenous inputs and reversed the relatable credit when clearing goods without duty under the exemption notification. On that basis, a further demand under Rule 6 for non-maintenance of separate records was not warranted, and the associated penalty could not survive. The text states that the demand and penalty were set aside, with relief granted to the assessee. en-us Mon, 20 Apr 2009 00:00:00 +0530 Wed, 31 Oct 2012 15:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125913 Proportionate reversal of Cenvat credit attributable to exempt clearances was treated as sufficient compliance on the facts, because the assessee had taken credit only on duty-paid indigenous inputs and reversed the relatable credit when clearing goods without duty under the exemption notification. On that basis, a further demand under Rule 6 for non-maintenance of separate records was not warranted, and the associated penalty could not survive. The text states that the demand and penalty were set aside, with relief granted to the assessee. Case-Laws Central Excise Mon, 20 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125913