Penalty Waived as Appellant Shows Reasonable Cause for Not Reversing Cenvat Credit Due to Exempted Service Ambiguity.

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....In view of lack of clarity on the inclusion of Trading Activity under exempted service w.e.f. 1/4/2011, the appellant has shown a reasonable cause for non reversal of the Cenvat credit attributed to the trading activity. - Penalty waived - AT....