https://www.taxtmi.com/caselaws?id=267176 Validly taken Cenvat credit on inputs, work-in-progress and finished goods could not be reversed merely because exemption was claimed for PSC pipes used in a project of national importance. The exemption notification contained no value-based or quantity-based condition triggering reversal, and the governing credit provisions were held inapplicable on the facts. In the absence of an express statutory requirement or a legally sustainable basis, and without a demonstrated one-to-one correlation justifying denial, the demand for reversal was held unsustainable. The Tribunal set aside the lower authority's order and allowed the appeal. en-us Tue, 29 Sep 2015 00:00:00 +0530 Sun, 01 Nov 2015 09:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267176 Validly taken Cenvat credit on inputs, work-in-progress and finished goods could not be reversed merely because exemption was claimed for PSC pipes used in a project of national importance. The exemption notification contained no value-based or quantity-based condition triggering reversal, and the governing credit provisions were held inapplicable on the facts. In the absence of an express statutory requirement or a legally sustainable basis, and without a demonstrated one-to-one correlation justifying denial, the demand for reversal was held unsustainable. The Tribunal set aside the lower authority's order and allowed the appeal. Case-Laws Central Excise Tue, 29 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267176