https://www.taxtmi.com/highlights?id=70709 Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is neither restriction nor compulsion to avail and utilize Cenvat credit on capital goods in the initial year of receipt of capital goods. - The contention of the department that the Appellant contravened the provisions of Cenvat credit by not utilizing 50% of the capital goods in the first years of its receipt is misconceived and not tenable in the eyes of law - AT en-us Tue, 04 Jul 2023 08:55:30 +0530 Tue, 04 Jul 2023 08:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70709 Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is neither restriction nor compulsion to avail and utilize Cenvat credit on capital goods in the initial year of receipt of capital goods. - The contention of the department that the Appellant contravened the provisions of Cenvat credit by not utilizing 50% of the capital goods in the first years of its receipt is misconceived and not tenable in the eyes of law - AT Highlights Central Excise Tue, 04 Jul 2023 08:55:30 +0530 https://www.taxtmi.com/highlights?id=70709