https://www.taxtmi.com/caselaws?id=256600 Under an exemption-conditional regime, credit taken on inputs does not defeat the exemption where the credit is reversed before utilisation; on those facts, the assessee is treated as not having availed the credit and the notification condition remains satisfied. The resulting denial of exemption could not stand, so the duty demand based on that denial was set aside. Once the demand failed, the related issues of cum-duty benefit and penalty also ceased to survive, restoring the exemption benefit and eliminating the consequential revenue objections. en-us Thu, 08 Jan 2015 00:00:00 +0530 Thu, 25 Jun 2015 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256600 Under an exemption-conditional regime, credit taken on inputs does not defeat the exemption where the credit is reversed before utilisation; on those facts, the assessee is treated as not having availed the credit and the notification condition remains satisfied. The resulting denial of exemption could not stand, so the duty demand based on that denial was set aside. Once the demand failed, the related issues of cum-duty benefit and penalty also ceased to survive, restoring the exemption benefit and eliminating the consequential revenue objections. Case-Laws Central Excise Thu, 08 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256600