https://www.taxtmi.com/caselaws?id=266270 The Tribunal upheld the Order-in-Appeal, ruling that the appellant was not entitled to the remaining 50% Cenvat credit on capital goods as the moulds were not in possession or use during the subsequent financial year. Rule 4(2)(b) of the Cenvat Credit Rules, 2002 mandates that the balance credit can only be availed when the capital goods are in possession and use. Despite arguments citing a Board Circular and tribunal judgments, the appellant's failure to demonstrate possession and use led to the dismissal of the appeal, affirming the demand for credit, penalty, and interest imposed by the Revenue. en-us Wed, 13 May 2015 00:00:00 +0530 Mon, 19 Oct 2015 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266270 The Tribunal upheld the Order-in-Appeal, ruling that the appellant was not entitled to the remaining 50% Cenvat credit on capital goods as the moulds were not in possession or use during the subsequent financial year. Rule 4(2)(b) of the Cenvat Credit Rules, 2002 mandates that the balance credit can only be availed when the capital goods are in possession and use. Despite arguments citing a Board Circular and tribunal judgments, the appellant's failure to demonstrate possession and use led to the dismissal of the appeal, affirming the demand for credit, penalty, and interest imposed by the Revenue. Case-Laws Central Excise Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266270