2007 (2) TMI 417 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Mumbai ruled that Cenvat Credit of Rs. 9,46,318/- taken on capital goods subsequently exported should not be paid back as per Rule 3(4) of the Cenvat Credit Rules 2002. The penalty imposed was also lifted as it was found to be revenue neutral due to the availability of rebate. The appeal was allowed.