Department's Demand on Trading Activities Unfounded; Extended Limitation Period Invocation Unjustified Under CENVAT Rules.

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....CENVAT Credit - trading of service (exempted service) - The appellants have been meticulously reversing the proportionate credit attributable to the trading activity. However, the Department has demanded 6%/8% of the value of the trading activity considering the same as an exempted service. - invoking extended period of limitation in such circumstances is unwarranted. - AT....