https://www.taxtmi.com/caselaws?id=34845 Under Rule 4(2)(b) of the CENVAT Credit Rules, 2002, the balance 50% credit on capital goods was not available before the statutory condition of possession and use for manufacture was satisfied, so premature availment was disallowed. Because the credit had been taken before entitlement arose, interest was payable as compensation for earlier utilisation. Penalty was nevertheless unwarranted, as the dispute involved a bona fide interpretative controversy on the credit-taking provision, and the penalty was deleted. en-us Mon, 09 Feb 2009 00:00:00 +0530 Tue, 24 May 2016 12:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34845 Under Rule 4(2)(b) of the CENVAT Credit Rules, 2002, the balance 50% credit on capital goods was not available before the statutory condition of possession and use for manufacture was satisfied, so premature availment was disallowed. Because the credit had been taken before entitlement arose, interest was payable as compensation for earlier utilisation. Penalty was nevertheless unwarranted, as the dispute involved a bona fide interpretative controversy on the credit-taking provision, and the penalty was deleted. Case-Laws Central Excise Mon, 09 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34845