what do you mean exactly by your question? do you mean in the preparation of tablets by wet granulation? in this case yes, but it's preferable to use hydroalcholic.
Take care that Absolute Ethanol must be kept in tight flasks: it is hygroscopic and tend to become 95,6% (is the azeotropic mixture of ethanol with water).
If the drug is moisture sensitive, you will need to be careful about the hygroscopicity of absolute ethanol and the relative humidity of the air used to dry the granulation.
You should also check for the potential for the drug to form a crystalline solvate with ethanol.
I wish to understand the application of Ethanol in your tablet formulation.
Pharmacopoeias classify ethanol with two terms: "Dehydrated or Anhydrous Alcohol" which should have a purity (or ethanol content) 'not less than' 99.5%, and "Alcohol", which should have an ethanol content from 95% to 97% (range varies among Pharmacopoeias).
Also, Ethanol is recommended for following purposes:
Antimicrobial Preservative/Disinfectant
Extracting Solvent
Solvent for Film Coating or Injectable solutions or Oral Liquids or Topical Products
You can also check the levels of usage @ FDA's IIG Database.