Cenvat Credit on Capital Goods Remains Valid After Surrendering Central Excise Registration, No Lapse Mandated by Law.

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....Cenvat Credit on Capital Goods - Lapse or not - Surrender of central excise registration - there being no provision in the excise law and rules made thereunder for lapsing of such credit merely on the ground of surrender of registration certificate or on the ground of availing the exemption benefit under a notification granting such exemption based on value or quantity of clearances - Decided in favour of the assessee .... - AT....