https://www.taxtmi.com/caselaws?id=236987 Deferred CENVAT credit on capital goods under Rule 4(2)(b) required two cumulative conditions in the relevant subsequent year: the manufacturer had to retain possession of the capital goods and the goods had to be in use for manufacture of final products. The court treated the phrase as clear and unambiguous, rejected any reading that would allow credit merely on anticipated future use, and applied strict construction of taxing provisions without importing extra conditions or diluting the statutory wording. Reliance on the earlier 1944 Rules and the departmental circular was found unpersuasive, and the remaining credit before actual installation and use was held not allowable. en-us Mon, 02 Sep 2013 00:00:00 +0530 Wed, 10 Jun 2015 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236987 Deferred CENVAT credit on capital goods under Rule 4(2)(b) required two cumulative conditions in the relevant subsequent year: the manufacturer had to retain possession of the capital goods and the goods had to be in use for manufacture of final products. The court treated the phrase as clear and unambiguous, rejected any reading that would allow credit merely on anticipated future use, and applied strict construction of taxing provisions without importing extra conditions or diluting the statutory wording. Reliance on the earlier 1944 Rules and the departmental circular was found unpersuasive, and the remaining credit before actual installation and use was held not allowable. Case-Laws Central Excise Mon, 02 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236987