https://www.taxtmi.com/caselaws?id=210273 Imported capital goods received in the factory and on which duty and CVD were paid qualified for 50% Cenvat credit under Rule 4(2)(a) of the Cenvat Credit Rules, 2002, and that first instalment could be taken in the next financial year. Rule 4(2)(b) did not apply where the balance credit had not been claimed, and no reversal was required merely because the machinery was not installed or fully used. On that basis, penalties on the company and individual appellants were unsustainable and were set aside, while the demand and interest already paid were left undisturbed. en-us Thu, 21 Jul 2011 00:00:00 +0530 Thu, 22 Nov 2012 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210273 Imported capital goods received in the factory and on which duty and CVD were paid qualified for 50% Cenvat credit under Rule 4(2)(a) of the Cenvat Credit Rules, 2002, and that first instalment could be taken in the next financial year. Rule 4(2)(b) did not apply where the balance credit had not been claimed, and no reversal was required merely because the machinery was not installed or fully used. On that basis, penalties on the company and individual appellants were unsustainable and were set aside, while the demand and interest already paid were left undisturbed. Case-Laws Central Excise Thu, 21 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210273