2012 (9) TMI 245

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..... e short issue involved in this appeal as framed by learned Commercial (Appeals) in first appellate order is whether the input credit element lying in stock or work in progress shall be reversible when the appellant opts for exemption after 31.3.2007. Factually both sides agree that prior to 31.3.2007 the appellant was discharging duty liability. After the cut off date i.e. 31.3.2007 the closing st .....

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..... unutilised Cenvat credit if any on record.   3. Controversy as aforesaid was before Hon ble High Court of Punjab & Haryana in the case of CCE, Chandigarh vs. C.N.C. Commercial Ltd. 2008 (224) ELT 239 (P & H), and also in the case of CCE, Chandigarh vs. Tyre Tops 2010 (250) ELT 338 (H.P.). Hon ble High Court has denied recovery of Cenvat credit by the mode of reversal when a Small Scale Indu .....

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