https://www.taxtmi.com/caselaws?id=295456 The Tribunal concluded that the "tipper chassis" used in the manufacture of sponge iron cannot be classified as an input but rather as a capital asset, thus not eligible for cenvat credit. The appeal was dismissed on this main issue. However, the penalty imposed was reduced from the duty-involved amount to 15,000 under Rule 15 of the Cenvat Credit Rules. The appeal was dismissed except for the penalty reduction, and the stay petition and appeal were disposed of accordingly. en-us Wed, 04 Apr 2012 00:00:00 +0530 Fri, 04 Jun 2021 12:59:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295456 The Tribunal concluded that the "tipper chassis" used in the manufacture of sponge iron cannot be classified as an input but rather as a capital asset, thus not eligible for cenvat credit. The appeal was dismissed on this main issue. However, the penalty imposed was reduced from the duty-involved amount to 15,000 under Rule 15 of the Cenvat Credit Rules. The appeal was dismissed except for the penalty reduction, and the stay petition and appeal were disposed of accordingly. Case-Laws Central Excise Wed, 04 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295456