2013 (3) TMI 362

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..... not actually been put to use. - Held that:- The assessee was entitled to avail of the balance fifty per cent credit during the year 2002-03 as the capital goods were lying in the factory for installation and the process of erection was being carried out. The requirement that the goods were in the possession and use of the manufacturer in the year in which the balance of credit was availed of .....

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..... edit may be taken in any financial year subsequent to the financial year in which the capital goods were received in the factory of the manufacturer, if the capital goods other than components, spares and accessories, refractories and refractory materials and goods falling under Heading No. 68.02 and sub-heading No. 6801.10 of the First Schedule to the Tariff Act are in the possession and use of t .....

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..... held that the expression possession and use of the manufacturer of final products have to be read together and would denote that the goods were available for use in the manufacture of the final products. In the present case, there is a finding of fact that the capital goods were lying in the factory for installation and the process of erection was being carried out. In this view of the matter, .....

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