https://www.taxtmi.com/caselaws?id=221234 CENVAT credit on duty-paid inputs cannot be denied merely because it was not availed immediately on receipt, where the CENVAT Credit Rules, 2004 do not prescribe a specific time limit for availment. The term "immediately" under Rule 4(1) was read as requiring credit to be taken at the earliest practical point after receipt, not as making delayed availment fatal to entitlement. Where the inputs are received in the factory and used in or in relation to manufacture of dutiable final products, delayed credit by itself does not prejudice Revenue. On that basis, denial of credit and consequential penalties were unsustainable. en-us Tue, 20 Nov 2012 00:00:00 +0530 Fri, 01 Mar 2013 10:16:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221234 CENVAT credit on duty-paid inputs cannot be denied merely because it was not availed immediately on receipt, where the CENVAT Credit Rules, 2004 do not prescribe a specific time limit for availment. The term "immediately" under Rule 4(1) was read as requiring credit to be taken at the earliest practical point after receipt, not as making delayed availment fatal to entitlement. Where the inputs are received in the factory and used in or in relation to manufacture of dutiable final products, delayed credit by itself does not prejudice Revenue. On that basis, denial of credit and consequential penalties were unsustainable. Case-Laws Central Excise Tue, 20 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221234