2015 (10) TMI 1634

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the highest rate while denying the credit which is contrary to the provisions of Rule 3(5B) of the Cenvat Credit Rules, 2004 - The provisions relating to reversal of credit on the value of inputs written off fully was introduced for the first time in the Cenvat Credit Rules, 2004 by way of insertion of Rule 3(5B) w.e.f. 11.05.2007 vide Notification No. 26/2007-CE (NT) dated 11.05.2007 and hence, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... and penalty is imposable proceedings have been initiated. 2. Learned counsel on behalf of the appellants made the following submissions: - There was no recovery mechanism incorporated under Rule 3 of the Cenvat Credit Rules, 2004 prior to 01.03.2013 to recover the Cenvat Credit attributable to the value of inputs in respect of which the provision to write off fully or partially has been made .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t Rules, 2004 by way of insertion of Rule 3(5B) w.e.f. 11.05.2007 vide Notification No. 26/2007-CE (NT) dated 11.05.2007 and hence, the demand invoking the longer period alleging suppression of facts on the part of the applicants is not sustainable. The demand is, therefore, completely barred by limitation. 3. I find myself in agreement with the submissions and the submission that under the cir .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X