2009 (7) TMI 934

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....hah, DR, for the Respondent. [Order per : M. Veeraiyan, Member (T) (Oral)]. - Heard both sides on the stay petition. 2. The applicant purchased DEPB scrips from the market on payment of cash and produced the same to the customs authorities and availed the exemption from payment of CVD.  Debiting the DEPB scrips as duty paid, the applicant has taken credit of CVD amounting to Rs. 12,6....

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....sed by the Larger Bench in the case of Essar Steel Limited v. CCE, Vishakhapatnam reported in 2004 (173) E.L.T. 239 (Tri.-LB). 4. Learned DR reiterates the finding of the Commissioner (Appeals). 5. We have carefully considered the submissions from both sides. The taking of Cenvat credit by the applicant appears to be bona fide action. On merits, the issue stands decided against the app....