https://www.taxtmi.com/caselaws?id=344041 The Tribunal allowed the appeal of the appellant, setting aside the confirmation of demand and penalty imposed for irregular credit availed on capital goods after opting out of the cenvat scheme. The decision emphasized the lack of provision for lapsing credit under the notification, highlighted the corrigendum allowing credit on capital goods, and clarified the proper utilization of credit for past liabilities. The Tribunal also ruled in favor of the appellant regarding the interpretation of the notification, applicability of Rule 6 of Cenvat Credit Rules 2004 for exports, and did not address the time-bar for invoking the extended period of limitation. en-us Mon, 27 Mar 2017 00:00:00 +0530 Wed, 07 Jun 2017 06:29:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344041 The Tribunal allowed the appeal of the appellant, setting aside the confirmation of demand and penalty imposed for irregular credit availed on capital goods after opting out of the cenvat scheme. The decision emphasized the lack of provision for lapsing credit under the notification, highlighted the corrigendum allowing credit on capital goods, and clarified the proper utilization of credit for past liabilities. The Tribunal also ruled in favor of the appellant regarding the interpretation of the notification, applicability of Rule 6 of Cenvat Credit Rules 2004 for exports, and did not address the time-bar for invoking the extended period of limitation. Case-Laws Central Excise Mon, 27 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344041