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TMI Blog2014 (11) TMI 161X X X X Extracts X X X X X X X X Extracts X X X X ..... . JUDGEMENT Per : Mr. H.K. Thakur; This extension application and appeal have been filed by the appellant with respect to OIA No. ID/87/Daman/2007 dated 31.12.2007 passed by Commissioner (Appeals), Daman. Under this OIA dated 31.12.2007, first appellate authority has upheld the OIO No. 21/Dem/ADJ/JC/2006 dated 26.12.2006 passed by the adjudicating authority. 2. Shri V.S. Sejpal (Advocate) app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mited - [2002 (150) ELT 759 (Tri. Del.)] (d) Kalyani Seamless Tubes Limited - [2004 (176) ELT 899 (Tri. Mum.)] (e) Agro Pack - [2009 (240) ELT 135 (Tri. Ahmd.)] (f) Shree Uma Foundaries Pvt. Limited - [2008 (222) ELT 317 (Tri. Kolkata)] 2.1 It was h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al goods are acquired by him on lease, hire purchase or loan agreement, from a financing company. 4.2 It is observed from the case laws relied upon by the appellant that this Bench in the case of Leamak Healthcare Pvt. Limited has held that the words used in Rule 4(3) are 'even if the capital goods are acquired' which does not debar Cenvat credit taken on capital goods given by a Company who is n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ule is extending the scope of availment of Modvat Credit in respect of those capital goods which are also acquired by the assessee from a financing company. The said sub-rule cannot be interpreted and read as if credit would be available in respect of capital goods only if the same are acquired from a financing company. This view is the basis for the Commissioner to arrive a finding against the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner would defeat the very legislative intent of allowing Modvat Credit in respect of capital goods. 4.3 In view of the above observations and interpretations cenvat credit was correctly availed by the appellant and appeal filed by the appellant is required to be allowed. 4.4 As the appeal is being allowed on merits, therefore, no opinion is given by the Bench with respect to time barred n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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