2013 (2) TMI 442

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....bsp;           There is no dispute in this appeal as to acquisition of capital goods and use thereof in manufacture after registration was obtained by appellant, which is patent from para 2 of the show cause notice dated 2.12.2009.  Despite such goods being received because the appellant was registered subsequently there was denial of cenva....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Rules, the assessee was not entitled to utilize Cenvat credit in the year of acquiring the same. Rule 4(2)(a) of the Cenvat Credit Rules provides that only to the extent of 50% of the Cenvat Credit could be utilized by the assessee during the year it is availed of. However, the said Rules do not mandate that the credit should be utilized in the very same year. Once the credit is not utilized in t....