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2013 (10) TMI 328 - AT - Central ExciseEligibility of Availment CENVAT Credit on Capital Goods - Revenue was of the view that the appellant to be denied of the CENVAT credit availed on capital goods – Held that:- Following Spenta International Ltd. vs. CCE, Thane [2007 (8) TMI 25 - CESTAT, MUMBAI ] - CENVAT credit eligibility is to be determined with reference to the dutiability of the final product on the date of receipt of capital goods - Both sides have not brought to our notice any contrary view expressed by any higher forum. The first appellate authority has also imposed penalties on the appellant - since the issue involved in this case was referred to Larger Bench and decided by the Larger Bench, there cannot be any reason for visiting the appellants with the penalty - As the issue was of interpretation, we are of the view that penalty imposed on the appellant by the first appellate authority is unwarranted and needs to be set aside - the confirmation of the demand of the ineligibility of CENVAT credit is upheld along with interest but penalty imposed by the first appellate authority are set aside – Decided partly in favor of Assesse.
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