CENVAT Credit Allowed for Leased Capital Goods Despite Leasing Entity's Industrial Operations u/r 4(3) Interpretation.

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....CENVAT credit - capital goods acquired on lease basis for another part of the respondent’s factory - denial on the ground that M/s IISIPL is not a Finance Company but is engaged in industrial operation. Rule 4(3) of CCR cannot be interpreted in the this manner to disallow the credit - AT....