2018 (8) TMI 404

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....Saggi (Advocate) for Appellant Shri Pawan Kumar Singh (Supdt.) AR for Respondent ORDER Per: Archana Wadhwa After hearing both the sides, we note that the appellant was engaged in the manufacture of edible biscuits, and were availing benefit of Cenvat credit of duty paid on various raw materials. The biscuits manufactured by the appellant carried the RSP of less than Rs. 100/- per Kg. a....

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.... raised against them proposing confirmation of amount of Rs. 12,00,476/-. 3. During the adjudication, appellant took a categorical stand that the said biscuits became exempted with effect from 01/03/2007; that they have already reversed proportionate credit of Rs. 2,30,130/- on 31/03/2007. In such a scenario, they contended that it has to be held as if no credit was ever availed by them. Howeve....

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....is stage, we note that the Hon'ble Supreme Court decision in the case of Chandrapur Magnet Wires Pvt. Ltd. Vs. Collector of Central Excise, Nagpur 1996 (81) E.L.T. 3 (SC) held that reversal of credit leads to a situation as if no credit was ever availed. The said decision stands followed in number of subsequent judgment of the Tribunal. One such reference can be made to Tribunal decisions in the c....