https://www.taxtmi.com/caselaws?id=355676 Cenvat credit was recognised for welding electrodes and steel items used to repair, maintain, and fabricate machinery and related support structures where the goods had a direct, commercially necessary nexus with manufacture. The analysis treated Rule 2(k) of the Cenvat Credit Rules, 2004 broadly and noted that the exclusion introduced by Explanation 2 operated prospectively. On limitation, the controversy was considered interpretational in light of conflicting judicial views, so the extended period was not invocable. As a result, the credit disallowance, demand, penalty, and interest were held unsustainable, and consequential relief followed. en-us Thu, 27 Jul 2017 00:00:00 +0530 Fri, 16 Feb 2018 13:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355676 Cenvat credit was recognised for welding electrodes and steel items used to repair, maintain, and fabricate machinery and related support structures where the goods had a direct, commercially necessary nexus with manufacture. The analysis treated Rule 2(k) of the Cenvat Credit Rules, 2004 broadly and noted that the exclusion introduced by Explanation 2 operated prospectively. On limitation, the controversy was considered interpretational in light of conflicting judicial views, so the extended period was not invocable. As a result, the credit disallowance, demand, penalty, and interest were held unsustainable, and consequential relief followed. Case-Laws Central Excise Thu, 27 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355676