https://www.taxtmi.com/caselaws?id=119997 Credit on capital goods under the amended Cenvat scheme was held to depend on the statutory usage condition as an integral part of the scheme, including for capital goods received before 1-4-2000; the credit demand was therefore sustained. Penalty was nevertheless deleted because the second instalment of credit was taken on a bona fide interpretation of the amended rules, and that conduct did not warrant penal consequences. The document thus records partial relief to the assessee, with eligibility for credit rejected but penal action set aside. en-us Fri, 22 Sep 2006 00:00:00 +0530 Mon, 16 Jul 2012 11:23:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119997 Credit on capital goods under the amended Cenvat scheme was held to depend on the statutory usage condition as an integral part of the scheme, including for capital goods received before 1-4-2000; the credit demand was therefore sustained. Penalty was nevertheless deleted because the second instalment of credit was taken on a bona fide interpretation of the amended rules, and that conduct did not warrant penal consequences. The document thus records partial relief to the assessee, with eligibility for credit rejected but penal action set aside. Case-Laws Central Excise Fri, 22 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119997