Subsequent reversal of Cenvat credit initially availed but not utilized, tantamount to non-availment of Cenvat credit
Last updated: 09 March 2015
Court :
Hon’ble CESTAT, New Delhi
Brief :
The Hon’ble CESTAT, Delhi relying upon the judgment of Hon’ble Allahabad High Court in the case Hello Minerals Water (P) Ltd. Vs. Union of India [(2004 (7) TMI 98] which was based on the Hon’ble Apex Court judgment in the case of Chandrapur Magnet Wire (P) Ltd. Vs. CC, Nagpur [1996 (81) E.L.T. 3 (S.C.)], held that since the Cenvat credit initially taken was reversed without being utilised by the Assessee, it is to be treated as if the Assessee has not taken the Cenvat credit and hence, would be eligible for the exemption benefit under the Exemption Notification.
Citation :
JCT Limited Vs. CCE, Jallandhar and Ludhiana and vice-versa [2015 (2) TMI 600 - CESTAT NEW DELHI]
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Bimal Jain
Published in Excise
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