https://www.taxtmi.com/caselaws?id=444205 Cenvat credit on capital goods under Rule 4(2)(a) of the Cenvat Credit Rules, 2002 was available only within the limits of the rule for the relevant financial year. Where credit had already been taken on capital goods at the original unit and one machine was later transferred to another unit, the credit had to be properly reversed and re-credited in accordance with the statutory scheme. Non-disclosure of the transfer, detected only during audit, supported invocation of the extended period and penalty. On these facts, the disputed credit was held inadmissible and the demand, interest, and penalty were sustained. en-us Thu, 14 Sep 2023 00:00:00 +0530 Tue, 23 Apr 2024 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444205 Cenvat credit on capital goods under Rule 4(2)(a) of the Cenvat Credit Rules, 2002 was available only within the limits of the rule for the relevant financial year. Where credit had already been taken on capital goods at the original unit and one machine was later transferred to another unit, the credit had to be properly reversed and re-credited in accordance with the statutory scheme. Non-disclosure of the transfer, detected only during audit, supported invocation of the extended period and penalty. On these facts, the disputed credit was held inadmissible and the demand, interest, and penalty were sustained. Case-Laws Central Excise Thu, 14 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444205