2023 (10) TMI 954

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..... ve not availed any cenvat credit of duty paid in the financial year 2006-07 and took whole of the cenvat credit in the financial year 2007-08 - HELD THAT:- The appellant has complied with the condition of Rule 4(2)(b) of the Cenvat Credit Rules, 2004 as they were entitled to take 50% of the credit in the financial year 2006- 07, where they have not taken any cenvat credit and balance amount credi .....

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..... nue is of the view that in the financial year 2007-08, the appellant was entitled to only 50% of the cenvat credit, therefore, availment of 50% of cenvat credit is in excess in terms of Rule 4(2)(b) of the Cenvat Credit Rules, 2004. In view of this, the proceedings were initiated against the appellant to deny 50% of the cenvat credit availed by the appellant in the financial year 2007-08. The matt .....

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..... ear 2007-08. The appellant has taken whole of the cenvat credit in the financial year 2007-08. Therefore, the cenvat credit is not required to be reversed by the appellant. In these terms, it is prayed that the impugned order be set aside. 4. On the other hand, the Ld.AR for the department supported the impugned order. 5. Heard the parties, considered the submissions. 6. The facts are not .....

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