Assessee Penalized for Availing 100% CENVAT Credit on Capital Goods in First Year, Violating 50% Rule.

Assessee Penalized for Availing 100% CENVAT Credit on Capital Goods in First Year, Violating 50% Rule. https://www.taxtmi.com/highlights?id=17303 CENVAT Credit on capital goods - assessee has availed 100% credit in the first year itself instead of 50% - Levy of interest and penalty amounting to Rs. 5000/- confirmed. - AT en-us Mon, 17 Feb 2014 21:20:32 +0530 Mon, 17 Feb 2014 21:20:32 +0530 TaxTMI RSS Generator Assessee Penalized for Availing 100% CENVAT Credit on Capital Goods in First Year, Violating 50% Rule. https://www.taxtmi.com/highlights?id=17303 CENVAT Credit on capital goods - assessee has availed 100% credit in the first year itself instead of 50% - Levy of interest and penalty amounting to Rs. 5000/- confirmed. - AT Highlights Central Excise Mon, 17 Feb 2014 21:20:32 +0530 https://www.taxtmi.com/highlights?id=17303