2004 (8) TMI 261

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..... The respondents received a generator (capital goods) in their factory on 20-10-98 but did not install it prior to 1-4-2000. The total CVD paid on the generator was Rs. 15,60,072.28. The respondent took 50% of that amount as credit in 2000-2001 and the balance in the next financial year. The contention of the Revenue is that since the generator was received at a time when an assessee can avail of .....

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..... ived on 20-10-98 hence the credit was earned before 1-4-2000 but taken after that day due to bar of availing the credit before installation. In view of this, the respondents had earned credit of 75% of CVD paid, hence their eligibility is to be restricted to 50% of that amount and not 50% of the total CVD as availed by the respondent. 4. Heard both sides. 5. The Revenue relies on the following .....

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..... tional Provisions, Rule 57AG, the respondents are entitled to take credit as eligible on the inputs received prior to 1-3-2000. The Revenue's appeal does not make any ground as to why Provisions of Rule 57AG are not applicable to the case of the respondents. Even otherwise, the respondents could not have availed of any credit prior to the installation of the generator. Whatever Provisions are appl .....

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