https://www.taxtmi.com/caselaws?id=221348 The Tribunal set aside the order denying Cenvat credit, recovery, and penalty imposition to steel and iron manufacturers, allowing their appeal. The delay in availing credit was justified post a Supreme Court judgment, supported by the interpretation of rules and circulars emphasizing that immediate availing is not mandatory. The Tribunal found the department's argument for immediate availing flawed, considering the lack of a specified time limit and the circumstances surrounding the delayed credit availing. Previous tribunal decisions and the Board's circular supported the appellants' position, leading to the favorable outcome. en-us Tue, 06 Nov 2012 00:00:00 +0530 Wed, 06 Mar 2013 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221348 The Tribunal set aside the order denying Cenvat credit, recovery, and penalty imposition to steel and iron manufacturers, allowing their appeal. The delay in availing credit was justified post a Supreme Court judgment, supported by the interpretation of rules and circulars emphasizing that immediate availing is not mandatory. The Tribunal found the department's argument for immediate availing flawed, considering the lack of a specified time limit and the circumstances surrounding the delayed credit availing. Previous tribunal decisions and the Board's circular supported the appellants' position, leading to the favorable outcome. Case-Laws Central Excise Tue, 06 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221348