2010 (6) TMI 690

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..... R Demand of Rs. 52,224/- together with interest and penalty of equal amount is challenged by the assessees in the present appeal. The demand represents reversal of credit on transformer oil cleared as such, in terms of Rule 3(5) of the CENVAT Credit Rules, 2004. 2. I have heard both sides. The contention of the assessees that they are not required to reverse credit as the value of the transforme .....

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