2006 (9) TMI 389

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..... ent. [Order]. - This is an appeal against the order of the Commissioner (Appeals) No. BR/56/M.IV/2005, dated 19-4-2005 which has substantially upheld the Order No. G-II/36/2002, dated 26-3-2002 of the original adjudicating authority. As per the Commissioner (Appeals) order the appellant has been denied a sum of Rs. 4,79,680/- representing Cenvat credit on capital goods and also equal amount of .....

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..... it was taken in August, 2000. (f)      Though factory has stopped the manufacturing activities by December, 2000 they have finished stock and they were clearing the same on payment of duty. (g)     They took the second installment of the Cenvat credit on capital goods in April 2001 and utilised the same towards payment of goods cleared by them. 4.&em .....

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..... rovisions of Rule 57AC should read together while extending credit. If the plea of the appellant that new Rule 57AC(2)(b) should not be applied to them is accepted it will go against the fundamental principle based on which Cenvat credit on capital goods are extended i.e., usage of the goods for manufacture of excisable goods on which duty becomes payable. In other words the condition mentioned un .....

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