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TMI Blog2016 (12) TMI 322X X X X Extracts X X X X X X X X Extracts X X X X ..... clined to consider the fact that reversal of credit in the present case will satisfy the condition of the Notification. Appeal allowed - decided in favor of assessee. - E/424/2010-EX [DB] - FINAL ORDER NO. 54533/2016 - Dated:- 29-9-2016 - Mr. S.K. Mohanty, Member (Judicial) and Mr. B.Ravichandran, Member (Technical) Present for the Appellant : Mr. Arshad Hidayatullah, Sr. Advocate Present for the Respondent : Mr. Yogesh Agarwal, D.R. ORDER The appeal is against order dated 26.10.2009 of Commissioner of Central Excise, Raipur. The appellants are engaged in the manufacture of Textile, Textile articles liable to Central Excise duty. They are availing concession available under Notification No. 29/04-CE dated 09.07. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld. Counsel submitted in order to close the issue and claim the exemption without any dispute, they have decided to reverse the credit attributable to the inputs lying in stock on 31.01.2007 and started availing the benefit of Notification 30/2004 in terms of Circular dated 01.02.2007. The ld. Counsel submitted that such reversal of credit made by the appellant subsequently should satisfy the condition under Notification 30/2004 in view of various judicial pronouncement. He drew our attention to the decision of Hon ble Gujarat High Court in Ashima Dyecot Ltd. - 2008 (232) ELT 580 (Guj.). In the said case, the availability of exemption under Notification 30/2004 was discussed in similar set of facts. He also on relying on the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ahabad High Court after examining various decided cases including the decision of Hon ble Supreme Court in Chandrapur Magnet Wires Co. (supra) held that reversal of credit was sufficient for availing the benefit of Notification. It was recorded that the reversal in that case was on the direction of the Tribunal on appellate stage. We note that the Hon ble High Court also refer to the Tribunal decision in High Line Pen - 2003 (158) ELT 168 (Tri.) to hold that reversal of credit should be done for availing he benefit of Notification and the time of reversal was not material. 5. In view of the above discussion and findings and the ratio laid down in the case laws discussed above, we find no merit in the impugned order and accordingly, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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