https://www.taxtmi.com/caselaws?id=52766 Rule 57AC allowed the first 50% Cenvat credit on capital goods to be taken on receipt in the factory, and installation or actual use was not a condition for that initial tranche; the credit was therefore admissible. The remaining 50% credit could be taken in a later financial year only if the capital goods were still in the possession and use of the manufacturer, so the deferred credit was not admissible when the goods were not in use. Penalties were not warranted because the credit had not been utilised and the dispute arose from interpretation of the rules rather than established culpable conduct. en-us Mon, 01 Mar 2004 00:00:00 +0530 Mon, 24 Jun 2024 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52766 Rule 57AC allowed the first 50% Cenvat credit on capital goods to be taken on receipt in the factory, and installation or actual use was not a condition for that initial tranche; the credit was therefore admissible. The remaining 50% credit could be taken in a later financial year only if the capital goods were still in the possession and use of the manufacturer, so the deferred credit was not admissible when the goods were not in use. Penalties were not warranted because the credit had not been utilised and the dispute arose from interpretation of the rules rather than established culpable conduct. Case-Laws Central Excise Mon, 01 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52766