Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2017 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (8) TMI 209 - AT - Central ExciseCENVAT credit - whether the CENVAT Credit on the capital goods at the time of debonding can be allowed to the appellants or not? - Held that: - The Commissioner has given the finding that it would have been a case of premature debonding had the debonding been done before the dates indicated in the LOP issued by the Development Commissioner. We find that this interpretation of Ld. Commissioner is erroneous because once DGFT had given extensions in both the cases, extended period for bonding was relevant for this purpose and the debonding has to be viewed in terms of the duly extended date by the competent authority. Board Circular 185/19/96-CES dt. 19.03.1996 was superseded by the N/N. 35/2008-CE (NT) dt. 24.09.2008 - In these appeals, the debonding took place in July, 2007 and credit was taken in November, 2007. Hence, they are eligible for the benefit of the circular. Appeal allowed - decided in favor of appellant.
|