https://www.taxtmi.com/caselaws?id=234702 The Tribunal ruled in favor of the appellant, a glass fiber manufacturer, in a case concerning the availment of CENVAT credit for bushings used in the manufacturing process. The appellant was allowed to claim the remaining credit in a subsequent financial year as per the CENVAT Credit Rules, despite not possessing the bushings in that year. The Tribunal clarified that the possession requirement does not apply to components like bushings, emphasizing the entitlement to credit without meeting the possession condition. This decision provides a favorable outcome for the appellant, setting aside the Revenue's demand to return the credit. en-us Mon, 11 Feb 2013 00:00:00 +0530 Thu, 10 Sep 2015 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234702 The Tribunal ruled in favor of the appellant, a glass fiber manufacturer, in a case concerning the availment of CENVAT credit for bushings used in the manufacturing process. The appellant was allowed to claim the remaining credit in a subsequent financial year as per the CENVAT Credit Rules, despite not possessing the bushings in that year. The Tribunal clarified that the possession requirement does not apply to components like bushings, emphasizing the entitlement to credit without meeting the possession condition. This decision provides a favorable outcome for the appellant, setting aside the Revenue's demand to return the credit. Case-Laws Central Excise Mon, 11 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234702