https://www.taxtmi.com/caselaws?id=208896 Rule 4(2)(b) of the Cenvat Credit Rules, 2002 permits availment of the balance 50% Cenvat credit on capital goods in a subsequent financial year where the goods are received in the factory and installation or erection is in progress. The expression "possession and use" was read to cover capital goods available for use in manufacture, not only goods already put to actual use. On that basis, capital goods lying in the factory under erection were treated as satisfying the statutory condition, and credit could be taken in the later year without waiting for completed operational use. en-us Mon, 16 Jan 2012 00:00:00 +0530 Fri, 24 Aug 2012 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208896 Rule 4(2)(b) of the Cenvat Credit Rules, 2002 permits availment of the balance 50% Cenvat credit on capital goods in a subsequent financial year where the goods are received in the factory and installation or erection is in progress. The expression "possession and use" was read to cover capital goods available for use in manufacture, not only goods already put to actual use. On that basis, capital goods lying in the factory under erection were treated as satisfying the statutory condition, and credit could be taken in the later year without waiting for completed operational use. Case-Laws Central Excise Mon, 16 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208896