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2010 (5) TMI 748 - AT - Central ExciseMODVAT/CENVAT Credit - denial on the ground that the same has been taken after a period of one year from the date of issue of permissible modvatable document - Held that:- In the case of M/s. Pierlite India Pvt. Ltd. v. C.C.E. Ahmedabad [2009 (9) TMI 115 - CESTAT, AHMEDABAD], the credit of tax availed after one year was held to be admissible. Also, the provisions of Rule 4(1) which are to the effect that “Cenvat credit in respect of inputs may be taken immediately on receipt of the inputs in the factors’ of manufacturer.” The use of expression “may be is” in fact, is relaxation given to the manufacturer to avail the credit immediately. This can never be interpreted in the manner that the credit not taken immediately would not be available to the manufacturer. There is no justification for denial of credit or for imposition of penalty - appeal allowed - decided in favor of appellant.
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