https://www.taxtmi.com/caselaws?id=367704 The High Court upheld the rejection of the Appellant's claim for Cenvat Credit on CI Moulds in the subsequent financial year, ruling that possession and use were required before the 2003 amendment. The Court found the amendment to Rule 4(2)(b) of the Cenvat Credit Rules 2002 to be prospective, denying retrospective application. Additionally, the Court ruled in favor of the Appellant regarding the penalty under Cenvat Credit Rules 2005, finding no justification for its imposition and overturning the Tribunal's decision. en-us Tue, 18 Sep 2018 00:00:00 +0530 Thu, 17 Jan 2019 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367704 The High Court upheld the rejection of the Appellant's claim for Cenvat Credit on CI Moulds in the subsequent financial year, ruling that possession and use were required before the 2003 amendment. The Court found the amendment to Rule 4(2)(b) of the Cenvat Credit Rules 2002 to be prospective, denying retrospective application. Additionally, the Court ruled in favor of the Appellant regarding the penalty under Cenvat Credit Rules 2005, finding no justification for its imposition and overturning the Tribunal's decision. Case-Laws Central Excise Tue, 18 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367704