https://www.taxtmi.com/caselaws?id=202569 The Appellate Tribunal CESTAT, Ahmedabad allowed the appeal in favor of the company engaged in the manufacture of Confectionary and Pharmaceutical products, overturning the disallowance of Modvat Credit on capital goods under Rule 4(3) of the Cenvat Credit Rules, 2004. The Tribunal held that the company was entitled to claim the credit irrespective of the source of acquisition, emphasizing that Rule 4(3) did not restrict credit eligibility to goods acquired from a financing company. Previous decisions supporting Modvat Credit on capital goods from non-financing company suppliers were cited, leading to the conclusion that the company could avail the benefit of the credit. en-us Thu, 24 Jun 2010 00:00:00 +0530 Tue, 05 Apr 2011 07:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202569 The Appellate Tribunal CESTAT, Ahmedabad allowed the appeal in favor of the company engaged in the manufacture of Confectionary and Pharmaceutical products, overturning the disallowance of Modvat Credit on capital goods under Rule 4(3) of the Cenvat Credit Rules, 2004. The Tribunal held that the company was entitled to claim the credit irrespective of the source of acquisition, emphasizing that Rule 4(3) did not restrict credit eligibility to goods acquired from a financing company. Previous decisions supporting Modvat Credit on capital goods from non-financing company suppliers were cited, leading to the conclusion that the company could avail the benefit of the credit. Case-Laws Central Excise Thu, 24 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202569