https://www.taxtmi.com/caselaws?id=266270 Balance Cenvat credit on capital goods was admissible in a later financial year only if the goods, other than specified exceptions, remained in the manufacturer's possession and use under Rule 4(2)(b) of the Cenvat Credit Rules, 2002. Because the moulds had already been used, became waste and scrap, and were no longer with the assessee when the credit was claimed, the statutory condition was not met. The remaining 50% credit was therefore not admissible and the disallowance was upheld in favour of 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 Balance Cenvat credit on capital goods was admissible in a later financial year only if the goods, other than specified exceptions, remained in the manufacturer's possession and use under Rule 4(2)(b) of the Cenvat Credit Rules, 2002. Because the moulds had already been used, became waste and scrap, and were no longer with the assessee when the credit was claimed, the statutory condition was not met. The remaining 50% credit was therefore not admissible and the disallowance was upheld in favour of Revenue. Case-Laws Central Excise Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266270