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TMI Blog2015 (7) TMI 1148X X X X Extracts X X X X X X X X Extracts X X X X ..... ould be in possession and use of the manufacturer of final products in such subsequent years. It is not in dispute that the moulds and dies were no longer in existence in subsequent years, as the same having been destroyed in the course of manufacture of the final product - Decided against the assessee - C.M.A. No. 954 and C.M.P. No. 3765 of 2006 - - - Dated:- 3-7-2015 - R. Sudhakar and K.B.K. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ext financial year can be put as a restriction especially when the moulds are incapable of lasting on repeated use? 2. The facts, in a nutshell, are as hereunder :- The appellant is engaged in the manufacture of MS Steel Ingots and hold valid Central Excise Registration. During the year 2000-2001, the appellant purchased 134.399 MT of C.I. Moulds, which are duty paid. The appellant took 50% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority. Being aggrieved against the said order, the assessee preferred appeal before the Tribunal, which dismissed the appeal filed by the assessee insofar as duty component is concerned, but set aside the penalty imposed on the appellant. Against the said order, the appellant/assessee is before this Court by filing the present appeal. 4. Heard the learned counsel appearing for the appellant/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Cenvat credit :- * * * * * * * (2) (a) . (b) The balance of Cenvat credit 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, provided that the capital goods (other than components, spares and accessories, refractories and refactory materials and goods failing under head ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... credit does not arise. Accordingly, this Court holds that the authorities below were justified in denying the benefit for the subsequent years during which moulds and dies were not available. Accordingly, the substantial questions of law are answered in favour of the respondent/Revenue and against the appellant/assessee. 8. In the result, the appeal fails and the same is dismissed confirming t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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