https://www.taxtmi.com/caselaws?id=381482 The Tribunal allowed the appeal, setting aside the order that directed recovery of cenvat credit on capital goods with interest and penalty. Relying on the interpretation of Rule 4(2)(b) of the Cenvat Credit Rules, 2002, and precedents from higher courts, the Tribunal held that possession and use of capital goods for manufacture, even if pending installation, qualified for availing the credit. The decision aligned with previous rulings emphasizing that possession and use should be considered together, ultimately favoring the appellant, a manufacturer of petroleum products. en-us Mon, 25 Feb 2019 00:00:00 +0530 Thu, 13 Jun 2019 06:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381482 The Tribunal allowed the appeal, setting aside the order that directed recovery of cenvat credit on capital goods with interest and penalty. Relying on the interpretation of Rule 4(2)(b) of the Cenvat Credit Rules, 2002, and precedents from higher courts, the Tribunal held that possession and use of capital goods for manufacture, even if pending installation, qualified for availing the credit. The decision aligned with previous rulings emphasizing that possession and use should be considered together, ultimately favoring the appellant, a manufacturer of petroleum products. Case-Laws Central Excise Mon, 25 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381482