2018 (2) TMI 612

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.... The allegation against M/s BASF India Ltd leading up to this appeal is the utilization of Rs. 87,637 in CENVAT credit account following clearance of goods at 'nil' rate of duty under notification no. 6/2006 dated 1st March 2006 and by recourse to rule 6(3) of CENVAT Credit Rules, 2004 between September 2009 and January 2000. On the incorrect availment of exemption notification having been poin....

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....(302) ELT 45 (Mad)] holding that '13. We do not subscribe to the view expressed by the Revenue. Admittedly, the assessee originally availed the Cenvat credit on Service Tax for discharging its liability. However, for sound reasons, it reversed the credit. Strictly speaking, in this process, there is only an account entry reversal and factually there is no outflow of funds from the assesse....

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....d during the relevant period viz., 2004-2006 getting the reversal of the entry is in tune with its stand taken, which was accepted by the Tribunal in the earlier round of litigation. 14. We do not find any good ground to hold that it was a case of refund of duly falling under Section 11B of the Central Excise Act, 1944 and that the assessee was to comply with the provisions of Section 11B....