2007 (5) TMI 511 - AT - Central Excise

Summary

The appellate tribunal in New Delhi held that denial of Cenvat credit for capital goods based on their write-off in the Balance Sheet was incorrect. The tribunal stated that credit eligibility depends on the use of capital goods for production, not on Balance Sheet entries. The order was stayed, and no recovery was allowed until the appeal was resolved. (Case citation: 2007 (5) TMI 511 - CESTAT, NEW DELHI)