https://www.taxtmi.com/caselaws?id=362857 The Tribunal ruled that the gas well, despite being essential for the manufacturing process, could not be considered an extension of the factory premises. Therefore, the CENVAT credit on the compressor used at the gas well was deemed inadmissible and needed to be reversed with interest. However, acknowledging the appellant's reliance on past cases and lack of malafide intent, the penalty was set aside. The appeal was partially allowed, overturning the penalties but confirming the demand for reversing the credit with interest. The decision emphasized the importance of strictly adhering to the criteria for availing CENVAT credit on capital goods used within the factory premises. en-us Thu, 28 Jun 2018 00:00:00 +0530 Thu, 05 Jul 2018 09:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362857 The Tribunal ruled that the gas well, despite being essential for the manufacturing process, could not be considered an extension of the factory premises. Therefore, the CENVAT credit on the compressor used at the gas well was deemed inadmissible and needed to be reversed with interest. However, acknowledging the appellant's reliance on past cases and lack of malafide intent, the penalty was set aside. The appeal was partially allowed, overturning the penalties but confirming the demand for reversing the credit with interest. The decision emphasized the importance of strictly adhering to the criteria for availing CENVAT credit on capital goods used within the factory premises. Case-Laws Central Excise Thu, 28 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362857