https://www.taxtmi.com/caselaws?id=444452 Under the CENVAT Credit Rules, 2004, credit on moulds and dies could not be denied merely because the assessee did not purchase or own the capital goods, since the Rules require receipt and compliance with prescribed conditions, not ownership. Credit reversals made on return of the goods to the OEMs also supported compliance with the reversal requirement. The adjudication order was further unsustainable because the assessee was not afforded an effective personal hearing despite appearing and seeking another date, amounting to breach of natural justice. The demand and penalty were therefore set aside in favour of the assessee. en-us Fri, 13 Oct 2023 00:00:00 +0530 Tue, 17 Oct 2023 08:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444452 Under the CENVAT Credit Rules, 2004, credit on moulds and dies could not be denied merely because the assessee did not purchase or own the capital goods, since the Rules require receipt and compliance with prescribed conditions, not ownership. Credit reversals made on return of the goods to the OEMs also supported compliance with the reversal requirement. The adjudication order was further unsustainable because the assessee was not afforded an effective personal hearing despite appearing and seeking another date, amounting to breach of natural justice. The demand and penalty were therefore set aside in favour of the assessee. Case-Laws Central Excise Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444452