https://www.taxtmi.com/caselaws?id=209513 The appeal by the Revenue regarding the demand of wrongly availed CENVAT credit on capital goods for manufacturing exempted cotton yarn was rejected. The interpretation of Notification No. 30/2004 and Rule 6(4) of the CENVAT Credit Rules, 2004 was crucial. The corrigendum clarified that the exemption did not apply to manufacturers availing capital goods credit, and since the duty on cotton yarn was optional, capital goods were not exclusively used in the manufacture of exempted goods. The assessees' compliance with Notification No. 29/2004 justified the credit utilization, leading to the upholding of the impugned order. en-us Mon, 22 Nov 2010 00:00:00 +0530 Wed, 17 Jul 2013 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209513 The appeal by the Revenue regarding the demand of wrongly availed CENVAT credit on capital goods for manufacturing exempted cotton yarn was rejected. The interpretation of Notification No. 30/2004 and Rule 6(4) of the CENVAT Credit Rules, 2004 was crucial. The corrigendum clarified that the exemption did not apply to manufacturers availing capital goods credit, and since the duty on cotton yarn was optional, capital goods were not exclusively used in the manufacture of exempted goods. The assessees' compliance with Notification No. 29/2004 justified the credit utilization, leading to the upholding of the impugned order. Case-Laws Central Excise Mon, 22 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209513