https://www.taxtmi.com/caselaws?id=121327 The Tribunal granted an interim stay in the appeal challenging the disallowance of Cenvat credit and reduced penalty by the Appellate Authority. The Tribunal emphasized that goods used in manufacturing capital goods, subsequently used in the factory, qualify as 'inputs' under Explanation 2 to Rule 2(k) of the Cenvat Credit Rules. The Tribunal noted that the lower authorities' narrow interpretation of 'capital goods' should not restrict the broader definition of 'inputs.' Citing a High Court decision, the Tribunal found a prima facie case for waiving the pre-deposit of duty and penalty, scheduling the appeal for final hearing. en-us Wed, 04 Apr 2007 00:00:00 +0530 Sat, 28 Jul 2012 13:16:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121327 The Tribunal granted an interim stay in the appeal challenging the disallowance of Cenvat credit and reduced penalty by the Appellate Authority. The Tribunal emphasized that goods used in manufacturing capital goods, subsequently used in the factory, qualify as 'inputs' under Explanation 2 to Rule 2(k) of the Cenvat Credit Rules. The Tribunal noted that the lower authorities' narrow interpretation of 'capital goods' should not restrict the broader definition of 'inputs.' Citing a High Court decision, the Tribunal found a prima facie case for waiving the pre-deposit of duty and penalty, scheduling the appeal for final hearing. Case-Laws Central Excise Wed, 04 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121327