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TMI Blog2018 (1) TMI 625X X X X Extracts X X X X X X X X Extracts X X X X ..... as credit in any financial year - Held that: - due to certain administrative reasons and non-receipt of original documents, the appellant could not avail the credit of 50% in the same financial year when the capital goods were received by them. Accordingly, they availed the credit to the full extent in the next financial year 2012-2013 - The appellants are apparently eligible for 50% credit in 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ory on 03/09/2011, 29/09/2011 and 03/01/2012. They have availed credit of CV duty paid on these capital goods in the year 2012-2013 to the full extent of 100%. The Revenue objected to that stating that as per Rule 4 (2) (a) and (b) the assessee can avail only 50% of duty paid on capital goods as credit in any financial year. The second 50% is to be availed in the succeeding financial year. Allegin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 012 itself. He submitted that the eligibility of credit on capital goods is not disputed on merits. Only, the availment of credit in two installments is a point of dispute. Relying on the decision of the Tribunal in Idea Cellular Ltd. Vs. CST, Mumbai - 2016 - TIOL - 2486 - CESTAT - MUM. the learned Counsel submitted that the credit availed by them cannot be denied. 3. The learned AR reiterated th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t installment in the next financial year. Reading the provisions of Rule 4 (2) (a) and (b) and also the facts of the present case, we are of the considered opinion that denial of credit in such circumstances is not warranted and is not supported by law. The appellants are apparently eligible for 50% credit in 2011-2012 itself, as they had capital goods and did pay duty on such capital goods. Accor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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