https://www.taxtmi.com/caselaws?id=257579 CENVAT credit on duty paid on wires drawn from wire rods was treated as admissible because the retrospective amendment to Rule 16 of the Central Excise Rules, 2002 by Section 39 of the Taxation Law (Amendment) Act, 2006 treated wire-drawing units as assessees where duty had already been paid on cleared wires. The later notification also protected credit taken for the earlier relevant period. On that basis, the purchaser was entitled to credit, and the demand for reversal, together with interest and penalty, could not survive. The denial of credit was set aside in favour of the assessee. en-us Thu, 06 Feb 2014 00:00:00 +0530 Mon, 16 Mar 2015 10:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257579 CENVAT credit on duty paid on wires drawn from wire rods was treated as admissible because the retrospective amendment to Rule 16 of the Central Excise Rules, 2002 by Section 39 of the Taxation Law (Amendment) Act, 2006 treated wire-drawing units as assessees where duty had already been paid on cleared wires. The later notification also protected credit taken for the earlier relevant period. On that basis, the purchaser was entitled to credit, and the demand for reversal, together with interest and penalty, could not survive. The denial of credit was set aside in favour of the assessee. Case-Laws Central Excise Thu, 06 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257579