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2017 (3) TMI 556 - CESTAT KOLKATACENVAT credit - input services - manufacture of Open Top Containers - Held that: - The appellant availed the accumulated Cenvat Credit on input service in relation to the Banking and other Financial Services, which were not directly or indirectly related to the manufacturing of the final products - the provider of output service M/s.Indian Container Leasing Co.Ltd., had accumulated Cenvat Credit, which has been transferred to a manufacturer of final products for utilisation in their factory, which is beyond the scope of Rule 10 of the CCR, 2004. And therefore, the lower authorities rightly denied the Cenvat Credit - It is a case of interpretation of the provisions of the CCR, therefore, the imposition of penalty u/s 11AC of the CEA, 1944, cannot be invoked - denial of Cenvat Credit, along with interest is upheld. Penalty imposed u/s 11AC is set aside - appeal allowed - decided partly in favor of appellant.
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