https://www.taxtmi.com/caselaws?id=245137 Cenvat credit was examined against two revenue objections at the stay stage. First, export of vehicles under bond had been completed, and the absence of foreign exchange realisation was not shown to be a condition for availing credit under the Cenvat Credit Rules; the objection therefore lacked prima facie merit and was not accepted. Second, credit was sought to be denied because inputs were used in a prototype vehicle sent abroad for testing, but the Tribunal noted that the precedent relied on by the Commissioner had been reversed by the Supreme Court; this objection was also not accepted. On that basis, unconditional stay was granted by dispensing with pre-deposit. en-us Tue, 29 Jan 2013 00:00:00 +0530 Fri, 21 Mar 2014 06:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245137 Cenvat credit was examined against two revenue objections at the stay stage. First, export of vehicles under bond had been completed, and the absence of foreign exchange realisation was not shown to be a condition for availing credit under the Cenvat Credit Rules; the objection therefore lacked prima facie merit and was not accepted. Second, credit was sought to be denied because inputs were used in a prototype vehicle sent abroad for testing, but the Tribunal noted that the precedent relied on by the Commissioner had been reversed by the Supreme Court; this objection was also not accepted. On that basis, unconditional stay was granted by dispensing with pre-deposit. Case-Laws Central Excise Tue, 29 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245137