https://www.taxtmi.com/caselaws?id=75452 Cenvat credit on capital goods used exclusively to manufacture exempted final products is barred under Rule 6(4) of the Cenvat Credit Rules, 2004 unless the exemption falls within the limited exception for exemptions based on value or quantity of clearances in a financial year. Where that exception does not apply, the credit is inadmissible and the demand is sustained. Penalty under Rule 15 is not justified where the credit was not utilised during the relevant period and the dispute turns on interpretation of the credit provisions, so penalty may be deleted. en-us Wed, 20 May 2009 00:00:00 +0530 Fri, 16 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75452 Cenvat credit on capital goods used exclusively to manufacture exempted final products is barred under Rule 6(4) of the Cenvat Credit Rules, 2004 unless the exemption falls within the limited exception for exemptions based on value or quantity of clearances in a financial year. Where that exception does not apply, the credit is inadmissible and the demand is sustained. Penalty under Rule 15 is not justified where the credit was not utilised during the relevant period and the dispute turns on interpretation of the credit provisions, so penalty may be deleted. Case-Laws Central Excise Wed, 20 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75452