https://www.taxtmi.com/caselaws?id=119006 Balance Cenvat credit on capital goods is available only if the goods remain in the possession and use of the same manufacturer in the relevant factory. Where capital goods are transferred out before the deferred credit is claimed, the statutory condition is not met and the remaining credit is not admissible. For goods removed in a later financial year, proportionate credit may be allowable where the condition was satisfied for part of the period before removal. An amended credit rule effective from 1-3-2002 also enlarged entitlement by permitting full credit for capital goods cleared as such in the same financial year, so later removals fell within the beneficial proviso. en-us Fri, 13 Jan 2006 00:00:00 +0530 Sat, 07 Jul 2012 13:34:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119006 Balance Cenvat credit on capital goods is available only if the goods remain in the possession and use of the same manufacturer in the relevant factory. Where capital goods are transferred out before the deferred credit is claimed, the statutory condition is not met and the remaining credit is not admissible. For goods removed in a later financial year, proportionate credit may be allowable where the condition was satisfied for part of the period before removal. An amended credit rule effective from 1-3-2002 also enlarged entitlement by permitting full credit for capital goods cleared as such in the same financial year, so later removals fell within the beneficial proviso. Case-Laws Central Excise Fri, 13 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119006