https://www.taxtmi.com/caselaws?id=349394 Reversal of the entire Cenvat credit attributable to inputs used in yarn neutralised the revenue's objection where that yarn was further used to make exempted fabrics. Applying earlier decisions, the Tribunal held that exemption under the notification could not be denied merely because the intermediate yarn was cleared without duty after such reversal. The demand for duty, interest and penalty was therefore not sustainable, and the assessee's appeal was allowed with consequential relief while the revenue's appeal was dismissed. en-us Thu, 17 Aug 2017 00:00:00 +0530 Fri, 13 Oct 2017 09:23:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349394 Reversal of the entire Cenvat credit attributable to inputs used in yarn neutralised the revenue's objection where that yarn was further used to make exempted fabrics. Applying earlier decisions, the Tribunal held that exemption under the notification could not be denied merely because the intermediate yarn was cleared without duty after such reversal. The demand for duty, interest and penalty was therefore not sustainable, and the assessee's appeal was allowed with consequential relief while the revenue's appeal was dismissed. Case-Laws Central Excise Thu, 17 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349394