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2016 (4) TMI 369 - AT - Central ExciseDisallowance of Cenvat credit - Availed credit on 22.08.2009, whereas, the capital goods have been cleared from the factory on 18.05.2009 itself - Revenue contended that cenvat credit is not to be allowed as the appellants were not in possession of the said capital goods on that date- Held that:- On going through the provisions of Rule 4(2) of Cenvat Credit Rules, the proviso clearly mentions, “that cenvat credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared as such in the same financial year”. The facts conforms to the provisions laid down by the proviso to Rule 4 (2) of CCR, 2004, and there is no ambiguity in the proviso as discussed above. By following the ratio laid down by the Co-ordinate Bench of the Tribunal in the case of Hindalco Industries Ltd. Vs. CCE, Cochin [2008 (1) TMI 292 - CESTAT, BANGALORE], wherein it was decided that the appellant assessee could not be debarred from taking credit so long as the fact of receipt of capital goods in the factory is not disputed and the fact of not having taken credit earlier were proved. In the instant case, both the conditions stand satisfied. Accordingly, the impugned order is set aside. - Decided in favour of appellant
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