2011 (2) TMI 44

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....ue.   Shri V. J. Sankaram, Advocate for the assessee.   Per Shri S. S. Kang (Oral)   Heard both sides. Assessee M/s. Hyderabad Chemicals Ltd. as well as revenue filed appeals against the same impugned order. The assessee filed appeal where a demand of Rs.12,81,857/- along with interest and penalty was confirmed. The demand was confirmed after denying the total credit availe....

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.... Cenvat Credit Rules, 2004 were amended retrospectively by Finance Act, 2010, whereby it has been made clear that in respect of input or input service used in or in relation to manufacture of exempted goods as well as in dutiable products, the reversal of proportionate credit in respect of input or input services which are used in or in relation to the exempted goods is sufficient and procedure ha....