Appellants Can Claim Refund for Reversed Credit Under Notification No. 50/2003-CE Without Reversing Unutilized Cenvat Credit.

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....At the time opting area based exemption of N/N. 50/2003-CE, the appellants are not required to reverse the credit in their cenvat credit account lying unutilized. - assessee is entitled for refund claim of the amount paid by the assessee on account of reversal of credit in cash. - AT....