https://www.taxtmi.com/caselaws?id=972 Cenvat credit attributable to exempted clearances, if reversed before removal of the goods, is treated as not having been availed for the purpose of the exemption condition. On that basis, the assessee satisfied the requirements of Notifications No. 29/2004 and 30/2004, and the benefit could not be denied merely because separate accounts were not maintained. Rule 6(3)(vi) of the Cenvat Credit Rules, 2002 was read consistently with the notifications, and timely reversal neutralised the initial availment of credit. The demand and penalty were therefore set aside, and the appeal was allowed with consequential relief. en-us Thu, 15 Jun 2006 00:00:00 +0530 Sun, 13 Apr 2008 19:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=972 Cenvat credit attributable to exempted clearances, if reversed before removal of the goods, is treated as not having been availed for the purpose of the exemption condition. On that basis, the assessee satisfied the requirements of Notifications No. 29/2004 and 30/2004, and the benefit could not be denied merely because separate accounts were not maintained. Rule 6(3)(vi) of the Cenvat Credit Rules, 2002 was read consistently with the notifications, and timely reversal neutralised the initial availment of credit. The demand and penalty were therefore set aside, and the appeal was allowed with consequential relief. Case-Laws Central Excise Thu, 15 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=972