https://www.taxtmi.com/caselaws?id=767455 CESTAT Chennai allowed the appeal regarding wrongful availment of CENVAT credit on MS Angles, MS Plates, MS Channels, MS Sheets, and HR Bars used as machinery components during May 2013 to March 2014. The tribunal held that Rule 2(a)(A)(iii) defining capital goods as components, spares and accessories is chapter-agnostic and covers all such items regardless of their classification under specific chapters. The definition encompasses components of goods under chapters 82, 84, 85, 90 without restricting components to these chapters only. The adjudicating authority erred in finding contradictory claims and failed to appreciate that components, spares and accessories of specified capital goods are eligible for CENVAT credit irrespective of their chapter classification. The demand and penalty were set aside. en-us Tue, 18 Mar 2025 00:00:00 +0530 Wed, 19 Mar 2025 06:45:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767455 CESTAT Chennai allowed the appeal regarding wrongful availment of CENVAT credit on MS Angles, MS Plates, MS Channels, MS Sheets, and HR Bars used as machinery components during May 2013 to March 2014. The tribunal held that Rule 2(a)(A)(iii) defining capital goods as components, spares and accessories is chapter-agnostic and covers all such items regardless of their classification under specific chapters. The definition encompasses components of goods under chapters 82, 84, 85, 90 without restricting components to these chapters only. The adjudicating authority erred in finding contradictory claims and failed to appreciate that components, spares and accessories of specified capital goods are eligible for CENVAT credit irrespective of their chapter classification. The demand and penalty were set aside. Case-Laws Central Excise Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767455