https://www.taxtmi.com/caselaws?id=459069 CESTAT Chennai allowed the appeal against wrongful CENVAT credit availment on capital goods. The appellant transferred capital goods from Vellore to Ranipet factory during shifting and took entire credit in same financial year instead of 50% as required under Rule 4(2)(a) of CCR, 2004. CESTAT held this was merely procedural infraction since appellant was eligible for balance credit in subsequent years and had paid interest and penalty. Additionally, demand under Rule 8(3A) of Central Excise Rules, 2002 was set aside following Bombay HC precedent declaring the rule unconstitutional. The impugned order was set aside and appeal allowed. en-us Wed, 21 Aug 2024 00:00:00 +0530 Thu, 28 Nov 2024 19:27:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459069 CESTAT Chennai allowed the appeal against wrongful CENVAT credit availment on capital goods. The appellant transferred capital goods from Vellore to Ranipet factory during shifting and took entire credit in same financial year instead of 50% as required under Rule 4(2)(a) of CCR, 2004. CESTAT held this was merely procedural infraction since appellant was eligible for balance credit in subsequent years and had paid interest and penalty. Additionally, demand under Rule 8(3A) of Central Excise Rules, 2002 was set aside following Bombay HC precedent declaring the rule unconstitutional. The impugned order was set aside and appeal allowed. Case-Laws Central Excise Wed, 21 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459069