Assessee Violates Condition No. 41 by Taking CENVAT Credit on Nil Duty Goods, Faces Exemption Benefit Issues.

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....Assessee admits taking of cenvat credit and contrary to the condition No. 41 of the Exemption Notification, which enables it to claim or remove the goods at nil duty. Knowing fully well, the Assessee could not have availed of the benefit of such exemption Notification - HC....