https://www.taxtmi.com/caselaws?id=763155 CESTAT Chennai allowed the appeal regarding reversal of Cenvat credit under Rule 6(3)(i) of CCR for non-maintenance of separate accounts for dutiable and exempted goods involving tooling fixtures. The tribunal relied on precedent from Needle Industries case and CBEC Circular No. 665/56/2002-CX, holding that intermediate products captively used in manufacturing dutiable final products are eligible for Cenvat credit. The demand was set aside as unsustainable, with extended period invocation and penalty imposition deemed inappropriate. Order-in-Original was completely overturned. en-us Thu, 12 Dec 2024 00:00:00 +0530 Fri, 13 Dec 2024 12:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763155 CESTAT Chennai allowed the appeal regarding reversal of Cenvat credit under Rule 6(3)(i) of CCR for non-maintenance of separate accounts for dutiable and exempted goods involving tooling fixtures. The tribunal relied on precedent from Needle Industries case and CBEC Circular No. 665/56/2002-CX, holding that intermediate products captively used in manufacturing dutiable final products are eligible for Cenvat credit. The demand was set aside as unsustainable, with extended period invocation and penalty imposition deemed inappropriate. Order-in-Original was completely overturned. Case-Laws Central Excise Thu, 12 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763155