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2009 (4) TMI 149 - AT - Central ExciseCenvat Credit – belated availment of credit - only ground on which the Commissioner had denied the credit taken by the applicants is that the inputs in question were received during the period from April, 2004 to September, 2006, but the credit was taken on 30.10.2006 and 31.11.2006 – held that - The Single Member Bench in the case of J.V. Strips v. CCE (2007 (7) TMI 116 - CESTAT, NEW DELHI) has tried to interpret the term ‘immediately on receipt of the inputs” as appearing in the provisions of Rule 4(1) to mean that the credit should be taken within reasonable time excluding the avoidable delay. The Rule does not provide for denial of credit if the credit has been taken not immediately as interpreted in the aforesaid decision. In fact, the Circular issued by CBEC specifically states that such interpretation as arrived at in the impugned Order based on the aforesaid decision of the CESTAT, is not tenable. In other words, the Circular issued by the Board specifically states that even if the manufacturer does not take credit as soon as the inputs are received, credit cannot be denied for that reason alone
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