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TMI Blog2016 (10) TMI 1252X X X X Extracts X X X X X X X X Extracts X X X X ..... ilized Cenvat credit balance, on the record date, when he opts to avail exemption. Admittedly in the facts of the present case the Cenvat credit balance was nil as on 31-3-2003 - no amount was required to be reversed or paid under the provisions of Rule 9(2) of Cenvat Credit Rules, 2002 which is equivalent to the provisions under Rule 11(2) of Cenvat Credit Rules, 2004. Appeal allowed - decide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as on 31-3-2003. 3. Heard the parties. 4. Having considered the rival contentions, I find that Rule 9(2) of Cenvat Credit Rules, 2002 which is para materia to Rule 11(2) of Cenvat Credit Rules, 2004 provides that a manufacturer who opts for exemption from whole of the duty of excise leviable on the goods manufactured by him, under notification based on the value or quantity of clearance in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Cenvat credit balance was nil as on 31-3-2003. Accordingly, I hold that no amount was required to be reversed or paid under the provisions of Rule 9(2) of Cenvat Credit Rules, 2002 which is equivalent to the provisions under Rule 11(2) of Cenvat Credit Rules, 2004. Accordingly this appeal is allowed and the impugned order is set aside. The appellant is entitled to consequential benefits, if an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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