https://www.taxtmi.com/caselaws?id=334904 The Appellate Tribunal CESTAT MUMBAI ruled in favor of the appellant, M/s.Preciforge & Gears, in a case concerning the classification of goods as inputs or capital goods for availing Cenvat credit. The Tribunal concluded that the disputed items were consumables, creating ambiguity in their classification. As the appellants had already paid interest on the credit availed, no penalty was deemed justified. Therefore, the appeal was allowed, settling the issue in favor of the appellant and relieving them from any penalty imposition. en-us Tue, 22 Mar 2016 00:00:00 +0530 Wed, 23 Nov 2016 13:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334904 The Appellate Tribunal CESTAT MUMBAI ruled in favor of the appellant, M/s.Preciforge & Gears, in a case concerning the classification of goods as inputs or capital goods for availing Cenvat credit. The Tribunal concluded that the disputed items were consumables, creating ambiguity in their classification. As the appellants had already paid interest on the credit availed, no penalty was deemed justified. Therefore, the appeal was allowed, settling the issue in favor of the appellant and relieving them from any penalty imposition. Case-Laws Central Excise Tue, 22 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334904