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2015 (5) TMI 1104 - AT - Central ExciseCENVAT credit - capital goods used in the factory - denial of credit on the ground that appellant has recovered the cost of the capital goods from their foreign buyers, therefore, they have lost the ownership of the capital goods, consequently, the Cenvat credit is required to be reversed by the appellant as they had removed the goods as such from the factory - Held that: - it is not in dispute that capital goods have been procured by the appellant and are still lying in their factory and are being used by the appellant themselves for manufacturing the final product - appellant is still using these capital goods in their factory and moreover the owner of the capital goods - appellant has correctly taken the Cenvat credit and not required to reverse the Cenvat credit - appeal allowed - decided in favor of appellant.
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