9911796707
TMI Blog2014 (7) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant. Shri M.S. Negi, DR, for the Respondent. ORDER After hearing both the sides, duly represented by Shri P.K. Mittal, Advocate and Shri M.S. Negi, Departmental Representative, we find that the appellant received capital goods in their factory in the year 2001 and availed 50% of credit on 31-3-2001 in terms of the provisions under Rule 4(2) of Cenvat Credit Rules, 2002. They were entitled to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der dated 19-11-2004 held that in respect of the Cenvat credit which was taken by the appellant on 4-12-2001 and reversed on 26-2-2003, they are liable to pay interest and to imposition of penalty. Accordingly penalty of Rs. 16,73,656/- has been imposed along with confirmation of demand of interest to the tune of Rs. 4.89 lakhs. 3. After hearing both the sides we find that the dispute relate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enue's appeal was rejected. In view of the above finding of the Hon'ble High Court the expressions "possession" and "use" had to be read together and once the goods are received, their actual installation and use may not be insisted upon. As the capital goods were admittedly received by the appellant and were ultimately installed and used in the manufacture of the final product, we are of the view ..... X X X X Extracts X X X X X X X X Extracts X X X X
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