https://www.taxtmi.com/caselaws?id=4154 Cenvat credit on welding electrodes was treated as inadmissible, following settled Tribunal precedent that such electrodes do not qualify for credit. Credit on winding wires was allowed because the assessee's declaration, though initially describing them as inputs and later as capital goods, did not defeat substantive entitlement where the later larger bench view permitted credit on the basis of a sufficient declaration under the relevant rules. Penalty was also set aside because it depended on the credit disallowance, and once the winding wire credit was sustained and the welding electrode issue followed settled precedent, the penalty foundation no longer survived. en-us Fri, 02 Nov 2007 00:00:00 +0530 Tue, 27 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4154 Cenvat credit on welding electrodes was treated as inadmissible, following settled Tribunal precedent that such electrodes do not qualify for credit. Credit on winding wires was allowed because the assessee's declaration, though initially describing them as inputs and later as capital goods, did not defeat substantive entitlement where the later larger bench view permitted credit on the basis of a sufficient declaration under the relevant rules. Penalty was also set aside because it depended on the credit disallowance, and once the winding wire credit was sustained and the welding electrode issue followed settled precedent, the penalty foundation no longer survived. Case-Laws Central Excise Fri, 02 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4154