https://www.taxtmi.com/caselaws?id=362943 CENVAT credit on inputs and semi-finished goods transferred between units on stock transfer basis was held admissible even without a purchase transaction. The governing rules did not require purchase as a mandatory condition; the later substitution of "procured" for "purchase" in Rule 7(4) of the CENVAT Credit Rules, 2002 was treated as confirming that acquisition by procurement was sufficient. Where duty had been paid and the inputs were used in manufacture, the mode of acquisition was immaterial. The Revenue's challenge therefore failed. en-us Fri, 18 May 2018 00:00:00 +0530 Fri, 06 Jul 2018 07:52:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362943 CENVAT credit on inputs and semi-finished goods transferred between units on stock transfer basis was held admissible even without a purchase transaction. The governing rules did not require purchase as a mandatory condition; the later substitution of "procured" for "purchase" in Rule 7(4) of the CENVAT Credit Rules, 2002 was treated as confirming that acquisition by procurement was sufficient. Where duty had been paid and the inputs were used in manufacture, the mode of acquisition was immaterial. The Revenue's challenge therefore failed. Case-Laws Central Excise Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362943