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2016 (3) TMI 947 - AT - Central ExciseCENVAT credit denied on the condition that the capital goods so supplied by M/s. ITC Ltd. is not a financing company - Held that:- Present respondent is on a better footing as they have taken the capital goods from the principal manufacturer and against which they are paying the lease rent to the principal manufacturer. There is no dispute that the capital goods so procured on lease basis are indeed used in the manufacturer of final product on behalf of M/s. ITC Ltd. Applying the ratio of the German Remedies Ltd. (2002 (4) TMI 140 - CEGAT, MUMBAI ) the respondent is entitled for the credit. - Decided in favour of asseessee
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