https://www.taxtmi.com/caselaws?id=51925 Cenvat credit on capital goods was admissible on receipt, because the governing rule allowed availment at that stage and imposed only a quantified restriction on the credit available in the relevant year. Installation was not a statutory condition precedent, and the departmental circular also stated that installation was not required before taking credit. A contrary reading would conflict with the text of the rule and the established treatment of inputs. The denial of credit for alleged premature availment was therefore unsustainable, and the demand and penalty could not stand. en-us Thu, 03 Jul 2003 00:00:00 +0530 Wed, 29 Sep 2010 12:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51925 Cenvat credit on capital goods was admissible on receipt, because the governing rule allowed availment at that stage and imposed only a quantified restriction on the credit available in the relevant year. Installation was not a statutory condition precedent, and the departmental circular also stated that installation was not required before taking credit. A contrary reading would conflict with the text of the rule and the established treatment of inputs. The denial of credit for alleged premature availment was therefore unsustainable, and the demand and penalty could not stand. Case-Laws Central Excise Thu, 03 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51925