https://www.taxtmi.com/caselaws?id=352965 Balance Cenvat credit on capital goods in a subsequent financial year was admissible only if the goods remained in the manufacturer's possession and use during that year. Rule 57AC(2)(a) allowed only 50% credit in the year of receipt, while Rule 57AC(2)(b) conditioned the deferred balance credit on continued possession and use. Rule 57AC(2)(c) concerning uninstalled capital goods received before 1 April 2000 did not override that requirement. As the capital goods had ceased to be used from December 2000, the statutory condition for claiming the balance credit in 2001-02 was not satisfied and recovery was upheld. en-us Thu, 02 Nov 2017 00:00:00 +0530 Mon, 25 Dec 2017 08:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352965 Balance Cenvat credit on capital goods in a subsequent financial year was admissible only if the goods remained in the manufacturer's possession and use during that year. Rule 57AC(2)(a) allowed only 50% credit in the year of receipt, while Rule 57AC(2)(b) conditioned the deferred balance credit on continued possession and use. Rule 57AC(2)(c) concerning uninstalled capital goods received before 1 April 2000 did not override that requirement. As the capital goods had ceased to be used from December 2000, the statutory condition for claiming the balance credit in 2001-02 was not satisfied and recovery was upheld. Case-Laws Central Excise Thu, 02 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352965