TMI Blog2010 (5) TMI 748X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 - CESTAT, AHMEDABAD], the credit of tax availed after one year was held to be admissible. Also, the provisions of Rule 4(1) which are to the effect that “Cenvat credit in respect of inputs may be taken immediately on receipt of the inputs in the factors’ of manufacturer.” The use of expression “may be is” in fact, is relaxation given to the manufacturer to avail the credit immediately. This c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f one year from the date of issue of permissible modvatable document. The Commissioner (Appeals) has observed in his order that the provisions of Rule 4(1) of Cenvat Credit Rules, 2004 which provides that the Cenvat Credit should be taken immediately. He has interpreted the expression immediately meaning within reasonable time . Learned appellate authority stated that one year is not reasonable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s observed that amended provisions of Cenvat Credit Rules do not prescribe any upper most time limit for allowing credit in contradiction of earlier Rule 57G. The Tribunal also referred to the Board s circular dated 29-8-00 which is to the effect that the manufacturer can take credit when the inputs are received in the factory. This, however, does not mean nor does it intended that if the manufact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... This can never be interpreted in the manner that the credit not taken immediately would not be available to the manufacturer. 5. In view of the above, I find no justification for denial of credit or for imposition of penalty. Accordingly, the impugned order is set aside and the appeal is allowed with consequential relief. Stay petition also gets disposed of. (Dictated Pronounced in Court) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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