2011 (4) TMI 1398

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....nt. [Judgment per : N. Kumar, J.]. -  The revenue has preferred this appeal challenging the order passed by the Tribunal upholding the order of the Commissioner of Central Excise which had granted the benefit to the assessee on reversal of proportionate cenvat credit before it is being utilised. 2. The assessee is a Public Sector undertaking engaged in the business of refining o....

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....ta reversal credit had been effected for the inputs used in naphtha relating to the clearance for the manufacture of fertilizers. It also held that the reversal of credit amounts to non-taking of credit. In that view of the matter, there is no liability to pay duty and therefore, they dismissed the appeal filed by the revenue. Aggrieved by the same, the revenue is in appeal. 3. The transac....