2012 (9) TMI 383

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....RAL JUDGMENT (PER J.P. DEVADHAR, J.)   1) This appeal was admitted on 5th June, 2008 on the following two questions of law :- a) Whether CESTAT is correct in law in allowing 100% Cenvat credit when as per the existing provisions of Cenvat Credit Rules, only 50% credit is admissible in the current financial year ? b) Whether it is correct to allow the credit of sales taxes In Cenvat a....

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....r, the assessee became entitled to the remaining 50% of the credit available in the following financial year and thus the assessee was entitled to 100% credit on the date of the appellate order. It is not the case of the revenue that the credit wrongly availed by the assessee has been utilized in the initial financial year. If the credit of the subsequent financial year wrongfully taken in the ini....