2015 (5) TMI 1104

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....pellant. Shri G.R. Singh, AR, for the Respondent. ORDER The appellants is in appeal against the impugned order wherein Cenvat credit is denied to the capital goods used in their factory. 2. The brief facts of the case are that the appellant is manufacturer of pharmaceuticals products. During the course of manufacture of their goods, they procured certain capital goods. The cost of....

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....eady held that as the cost of capital goods has been recovered from the foreign buyers, therefore appellant has lost physical control of goods. Therefore, Cenvat credit is rightly denied by the authority. Against that order appellant is before me. 3. Learned Counsel for the appellant has submitted that capital goods are in their factory and they are using the same for manufacture of final ....

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....ppellant and are still lying in their factory and are being used by the appellant themselves for manufacturing the final product. The only objection of the Revenue is that appellant has recovered the cost of the capital goods from their foreign buyers, therefore, they have lost the ownership of the capital goods, consequently, the Cenvat credit is required to be reversed by the appellant as they h....