CENVAT Credit Claim Dismissed: IDBI Bank Retains Ownership of Leased Cranes, No Liability for ATV.

CENVAT credit - capital goods - The entire allegation of revenue is based on flow back of money to ATV. The said allegation is misconceived in as much as admittedly the 4 cranes in questions were leased by IDBI Bank and the ownership of the same vests with IDBI bank only. - demand set aside .....

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