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TMI Blog2017 (3) TMI 11X X X X Extracts X X X X X X X X Extracts X X X X ..... be installed in the factory of the assessee and used in the manufacture of final product which is not in dispute in the present case - credit allowed - appeal allowed - decided in favor of appellant. - E/2819 & 2820/06 - A/85724-85725/17/SMB - Dated:- 20-1-2017 - Shri Ramesh Nair, Member (Judicial) Shri Rajesh Ostwal, Advocate for the appellant Shri Ashutosh Nath, AC (AR) for the res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and insurance was claimed. After claiming of the insurance the machine did not belong to the appellant and it was owned by New India Insurance Company. Subsequently when the capital goods was repurchased by the appellant the credit is not admissible. Adjudicating authority confirmed the demand which was upheld by the Commissioner (Appeals) therefore the appellant is before me. 2. Shri Rajesh O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. On the other hand, Shri Ashutosh Nath, Ld. Asstt. Commissioner appearing on behalf of the revenue reiterates the finding of the impugned order. He submits that when the ownership of the capital goods did not remain with the appellant after the taking claim from insurance company they were not entitled to take cenvat credit. He submits that as against the claim of ₹ 2 crores, they have r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tal goods the damaged machine was lying in the factory of the appellant. Subsequently, the same machine was used by the appellant. It is also fact that appellant had not claimed the insurance in respect of CVD amount. Even though for intervening period, after insurance claim, the ownership of the machine transferred to the insurance company and thereafter the appellant has taken the ownership afte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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