https://www.taxtmi.com/caselaws?id=249152 Rule 4(2) of the Cenvat Credit Rules, 2002 was construed to permit availment of the balance 50% Cenvat credit in the subsequent financial year once capital goods had been received and were in the assessee's possession for use in manufacture. Actual installation before taking the credit was not treated as a condition precedent, because the requirement of possession and use was read together for eligibility. On that basis, the assessee was entitled to claim the balance credit in the relevant later year, and no interest or penalty was payable. en-us Thu, 12 Sep 2013 00:00:00 +0530 Sat, 05 Jul 2014 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249152 Rule 4(2) of the Cenvat Credit Rules, 2002 was construed to permit availment of the balance 50% Cenvat credit in the subsequent financial year once capital goods had been received and were in the assessee's possession for use in manufacture. Actual installation before taking the credit was not treated as a condition precedent, because the requirement of possession and use was read together for eligibility. On that basis, the assessee was entitled to claim the balance credit in the relevant later year, and no interest or penalty was payable. Case-Laws Central Excise Thu, 12 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249152