2013 (12) TMI 1138 - AT - Central Excise

Waiver of pre deposit - Denial of CENVAT credit - Availment of CENVAT credit on HR plates - Construction of storage tanks - Held that - CENVAT credit was admissible to inputs used in the manufacture of storage tanks which were expressly covered by the definition of capital goods given under Rule 2(a) of the CENVAT Credit Rules, 2004 - Following decision of Bannari Amman Sugars Ltd. Vs. Commissioner of Central Excise, Mysore 2009 (11) TMI 232 - KARNATAKA HIGH COURT and Commissioner of C. Ex., Bangalore-II vs. SLR Steels Ltd. 2012 (9) TMI 169 - KARNATAKA HIGH COURT - Stay granted.

Summary

The appellant sought waiver and stay for denied CENVAT credit on HR plates used in construction of storage tanks for petroleum products. The Tribunal found a prima facie case based on High Court decisions allowing CENVAT credit for such inputs. Waiver and stay granted for the dues.