2014 (9) TMI 105

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....RK Mishra, DR PER : Archana Wadhwa The appellant is engaged in the manufacture of mould steel ingots and runners and risers under an agreement entered into by them with M/s. DSM Sugar Asmoli. Under the said lease agreement dated 26.09.2002, the facility of land and machinery stands provided by M/s. DSM Sugar, Asmoli and the capital goods were received by them are required to be installed by ....

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....ich are in the name of M/s. DSM Sugars cannot be held to be proper Modvatable document so as to allow the CENVAT credit in respect of the same. On the other hand, it is the contention of the appellant that even though M/s. DSM Sugars are the owners of the capital goods in question, there is no sale purchase of the capital goods and the same only stands transferred to their unit under the lease agr....

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.... National Textile Corporation Ltd. There is no sale between the two units. Hence, the ratio of the Larger Bench decision will not be applicable. Revenue has not doubted nor disputed that the consignments of the inputs in question was not duty paid and was not duly received in the Respondent Factory and was not utilised in the manufacture of their final product which was cleared on the payment of d....

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....urer in terms of leave licence agreement, capital goods credit cannot be denied to automobile component manufacturer on the ground that the goods were not owned by them. Reliance was also placed on the Board Circular No.263/8/89-EX, dated 01.03.1989. 4. In as much as there is no dispute that the said capital goods stand received by the appellants and further duly installed in their factory and ....