2015 (10) TMI 1545

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.... Per: Ramesh Nair: This appeal is directed against Order-in-Appeal No. CEX. XI/JMJ/ 414/ 916 /NSL /APL /2004 dtd. 18/10/2004 passed by the Commissioner of Central Excise & Customs (Appeals), Nashik, wherein Ld. Commissioner (Appeals) upheld the order-in-original dated 16/12/2003 and dismissed the appeal filed by the appellant. The fact of the case is that appellant has availed 50% Cenvat cred....

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.... was issued and culminated into adjudication order wherein demand of Cenvat credit amounting Rs. 1,57,008/- was confirmed and penalty of Rs. 20,000/- was imposed under Rule 13 of Cenvat Credit Rules, 2002 and interest under Rule 12 of Cenvat Credit Rules, 2002 read with Section 11AB of Central Excise Act, 1944 was also ordered to be recovered. 2. When the matter was called for, none appeared on....

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....ital goods is in possession and use with the manufacturer. As in the present case, the C.I. Moulds were admittedly not in possession of the appellant and it was not in use as the same become waste and scrap and cleared out of the factory credit of balance 50% is not admissible. He placed reliance on the judgments of this Tribunal in the case of Silver Ispat (P) Ltd. Vs. Commissioner of Central Exc....

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....sible to the appellant for ease of reference Rule 4(2)(b) is reproduced below:- 4. Conditions for allowing CENVAT credit. - (1) The CENVAT credit in respect of inputs may be taken immediately on receipt of the inputs in the factory of the manufacturer (2) (a) --------- (b) The balance of CENVAT credit may be taken in any financial year subsequent to the financial year in which the capital....