2006 (9) TMI 389

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....L. Bablani, Jt. CDR, for the Respondent. [Order]. - This is an appeal against the order of the Commissioner (Appeals) No. BR/56/M.IV/2005, dated 19-4-2005 which has substantially upheld the Order No. G-II/36/2002, dated 26-3-2002 of the original adjudicating authority. As per the Commissioner (Appeals) order the appellant has been denied a sum of Rs. 4,79,680/- representing Cenvat credit on ....

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....during the operation of the new rules 50% of the credit was taken in August, 2000. (f)      Though factory has stopped the manufacturing activities by December, 2000 they have finished stock and they were clearing the same on payment of duty. (g)     They took the second installment of the Cenvat credit on capital goods in April 2001 and utilised ....

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.... respect of goods received prior to 1-4-2000 also. The entire provisions of Rule 57AC should read together while extending credit. If the plea of the appellant that new Rule 57AC(2)(b) should not be applied to them is accepted it will go against the fundamental principle based on which Cenvat credit on capital goods are extended i.e., usage of the goods for manufacture of excisable goods on which ....