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2015 (10) TMI 1545 - AT - Central ExciseAvailment of CENVAT Credit - capital goods / moulds were not available during the next year - appellant has availed 50% Cenvat credit under capital goods on C.I. Moulds at the time of receipt and subsequent 50% was availed in the subsequent financial year - Held that:- There is no dispute in the fact that appellant has availed Cenvat Credit in respect of C.I. Moulds to the extent of 50% at the time of receipt thereof and balance 50% was availed in the subsequent financial year. At the time of taking balance 50% credit in the subsequent financial year, the mould is neither in the possession of the appellant nor the same was in use as same were consumed or become waste after use and said waste have been cleared from the factory. Under these set of undisputed facts in term of Rule 4(2)(b) the balance of 50% credit is not admissible to the appellant - balance 50% Credit can be taken only in case where such capital goods is in possession of the assessee and also in use. In the present case since at the time of taking remaining 50% credit, moulds were not available with the appellant Cenvat credit of remaining 50% was correctly disallowed. This position has been made clear in the judgments of Silver Ispat (P) Ltd. [2008 (5) TMI 104 - CESTAT MUMBAI] and Sri Krishna Alloys (2006 (1) TMI 411 - CESTAT, CHENNAI) as cited by Ld. A.R. In view of this settled legal position and Board clarification the appellant is not entitled for Cenvat Credit to the extent of remaining 50% therefore impugned order is upheld - Decided against assessee.
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