2013 (2) TMI 442

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.....      There is no dispute in this appeal as to acquisition of capital goods and use thereof in manufacture after registration was obtained by appellant, which is patent from para 2 of the show cause notice dated 2.12.2009.  Despite such goods being received because the appellant was registered subsequently there was denial of cenvat credit on the ground that acquisition wa .....

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..... lize Cenvat credit in the year of acquiring the same. Rule 4(2)(a) of the Cenvat Credit Rules provides that only to the extent of 50% of the Cenvat Credit could be utilized by the assessee during the year it is availed of. However, the said Rules do not mandate that the credit should be utilized in the very same year. Once the credit is not utilized in the same year, then Rule 4(2)(b) provides tha .....

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..... t remains uncontroverted by Revenue. 3. There is no difference by ld. DR as to the factual aspect in para 2 of show cause notice. 4. Heard both sides and perused record. 5. When there is no dispute of acquisition of capital goods and use thereof not being found otherwise, there shall not be denial of cenvat credit because those goods were acquired before registration.This can be said following .....

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