High Court Confirms CENVAT Credit Demand on Capital Goods Prior to Use; Interpretation Deemed Clear and Unambiguous.

High Court Confirms CENVAT Credit Demand on Capital Goods Prior to Use; Interpretation Deemed Clear and Unambiguous. https://www.taxtmi.com/highlights?id=14504 CENVAT credit on Capital Goods - balance 50% of credit availed during subsequent years before the machinery put to use - The phrase, “in possession and use of the manufacturer of final products" was clear and unambiguous - The phrase calls for one and only one interpretation and does not call for any external aid to cull the meaning of the said phrase - Demand confirmed - HC en-us Sat, 14 Sep 2013 12:52:15 +0530 Sat, 14 Sep 2013 12:52:15 +0530 TaxTMI RSS Generator High Court Confirms CENVAT Credit Demand on Capital Goods Prior to Use; Interpretation Deemed Clear and Unambiguous. https://www.taxtmi.com/highlights?id=14504 CENVAT credit on Capital Goods - balance 50% of credit availed during subsequent years before the machinery put to use - The phrase, “in possession and use of the manufacturer of final products" was clear and unambiguous - The phrase calls for one and only one interpretation and does not call for any external aid to cull the meaning of the said phrase - Demand confirmed - HC Highlights Central Excise Sat, 14 Sep 2013 12:52:15 +0530 https://www.taxtmi.com/highlights?id=14504