https://www.taxtmi.com/caselaws?id=52861 Under the Cenvat scheme introduced from 1-4-2000, installation of capital goods is not a condition for taking the first 50% credit when the goods are received in the factory, because the relevant rules and Board clarification permit credit on receipt. The balance 50% credit in a later financial year is available only if the capital goods remain in the manufacturer's possession and use; where the goods were not put to use in the later year, that credit is not available. In a dispute turning on interpretation of the credit rules, penalty is not warranted and is deleted. en-us Thu, 08 Apr 2004 00:00:00 +0530 Fri, 08 Oct 2010 11:28:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52861 Under the Cenvat scheme introduced from 1-4-2000, installation of capital goods is not a condition for taking the first 50% credit when the goods are received in the factory, because the relevant rules and Board clarification permit credit on receipt. The balance 50% credit in a later financial year is available only if the capital goods remain in the manufacturer's possession and use; where the goods were not put to use in the later year, that credit is not available. In a dispute turning on interpretation of the credit rules, penalty is not warranted and is deleted. Case-Laws Central Excise Thu, 08 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52861