https://www.taxtmi.com/caselaws?id=325763 The Tribunal held that Cenvat credit should be allowed for capital goods acquired on lease basis, even from a non-financing company, as long as the goods are used in manufacturing processes. The interpretation of Rule 4(3) of the Cenvat Credit Rules focused on utilization rather than the source of procurement. Precedents, including the German Remedies Ltd. case, supported the admissibility of credit for leased capital goods used in manufacturing. The Tribunal dismissed the Revenue's appeal and upheld the Commissioner's decision, emphasizing the importance of legal interpretation and precedent in determining tax credit entitlements. en-us Fri, 26 Feb 2016 00:00:00 +0530 Fri, 04 Nov 2016 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325763 The Tribunal held that Cenvat credit should be allowed for capital goods acquired on lease basis, even from a non-financing company, as long as the goods are used in manufacturing processes. The interpretation of Rule 4(3) of the Cenvat Credit Rules focused on utilization rather than the source of procurement. Precedents, including the German Remedies Ltd. case, supported the admissibility of credit for leased capital goods used in manufacturing. The Tribunal dismissed the Revenue's appeal and upheld the Commissioner's decision, emphasizing the importance of legal interpretation and precedent in determining tax credit entitlements. Case-Laws Central Excise Fri, 26 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325763