https://www.taxtmi.com/caselaws?id=170156 Cenvat credit was admissible on capital goods received in the factory before 1-4-2000 and installed thereafter, because Rule 57AC(2C) allowed such credit subject to the financial-year ceiling of not more than 50% of duty-paid credit. The balance credit was also held admissible on the footing that the statutory conditions were substantially satisfied and the notification could not be read hyper-technically to deny entitlement. As the credit claim was sustainable, the penalty basis also fell away. en-us Tue, 05 Oct 2010 00:00:00 +0530 Mon, 18 May 2015 14:16:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170156 Cenvat credit was admissible on capital goods received in the factory before 1-4-2000 and installed thereafter, because Rule 57AC(2C) allowed such credit subject to the financial-year ceiling of not more than 50% of duty-paid credit. The balance credit was also held admissible on the footing that the statutory conditions were substantially satisfied and the notification could not be read hyper-technically to deny entitlement. As the credit claim was sustainable, the penalty basis also fell away. Case-Laws Central Excise Tue, 05 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170156