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2015 (10) TMI 1343 - CESTAT CHENNAIDenial of CENVAT Credit - Capital goods - Held that:- Credit was disallowed only on the premise that the original equipment was purchased in 1991 where no credit scheme was in force. Prima facie , I find that there was no such provision in Cenvat rules for denial of capital goods credit on the parts imported for replacement, particularly during that period original equipments were not covered under modvat scheme. Compensation scheme from the insurance company has no relevance for availment of credit on capital goods purchased in 2006. Prima facie , appellants have made out a case for waiver of predeposit of demand in question. Accordingly, predeposit of dues arising out of the impugned order is waived and recovery thereof stayed during pendency of appeal - Stay granted.
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