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2013 (3) TMI 1 - AT - Central ExciseCenvat credit denied - credit has not been taken immediately on receipt of the inputs in the factory - Held that:- The Tribunal in the case of Pierlite India Pvt. Ltd. vs. CCE, Ahmedabad (2009 (9) TMI 115 - CESTAT, AHMEDABAD) and in the case of Lubi Electronics (2009 (1) TMI 605 - CESTAT, AHMEDABAD) held that no time limit for taking credit is provided in the CENVAT Credit rules. Similarly, the Tribunal in the case of SGS India Pvt. Ltd. (2011 (3) TMI 759 - CESTAT, MUMBAI), after relying upon the Board's Circular dated 29.08.2000, held that if the manufacturer has not taken credit immediately on receipt of the goods, the manufacturer cannot be deprived of taking of the credit. Thus the impugned orders whereby the credit was denied on the ground that the same has not been taken immediately on receipt of the inputs are not sustainable hence set aside and consequential penalties are also set aside - in favour of assessee.
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