https://www.taxtmi.com/caselaws?id=1490 Rule 4(2)(a) of the Cenvat Credit Rules, 2002 allowed only 50% of capital goods credit in the year of receipt, while Rule 4(2)(b) permitted the balance to be taken in a subsequent financial year. The assessee had not claimed the initial 50% in the year of receipt but availed the full credit later. The rule contained no express prohibition against taking the remaining credit in the later year, so the balance Cenvat credit could not be denied merely because it was not claimed earlier. On that basis, denial of credit, penalty, interest, and confiscation was not sustainable. en-us Thu, 22 Feb 2007 00:00:00 +0530 Mon, 14 Apr 2008 18:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1490 Rule 4(2)(a) of the Cenvat Credit Rules, 2002 allowed only 50% of capital goods credit in the year of receipt, while Rule 4(2)(b) permitted the balance to be taken in a subsequent financial year. The assessee had not claimed the initial 50% in the year of receipt but availed the full credit later. The rule contained no express prohibition against taking the remaining credit in the later year, so the balance Cenvat credit could not be denied merely because it was not claimed earlier. On that basis, denial of credit, penalty, interest, and confiscation was not sustainable. Case-Laws Central Excise Thu, 22 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1490