M/S. H.M.T. & Ors vs Cce, Panchkula on 12 August, 2008
8. Learned counsel relied on the Larger Bench decision of the Tribunal in the case of H.M.T. (supra). Therefore, it was inquired from revenue whether such Larger Benchs decision has been reversed or stayed by any higher court. Revenue has no instruction in this regard today. In view of the mandate of Rule 14 of the Cenvat Credit Rules, 2004, to call back the Cenvat credit without being wrongly taken or wrongly utilised, adjudication is unsustainable. Accordingly, the impugned order is set aside and the appeal is allowed except to the extent of unutilised Cenvat credit existing on record on 8/1/2004 is to be reversed.