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2015 (10) TMI 1343 - CESTAT CHENNAI

2015 (10) TMI 1343 - CESTAT CHENNAI - TMI - Denial of CENVAT Credit - Capital goods - Held that:- Credit was disallowed only on the premise that the original equipment was purchased in 1991 where no credit scheme was in force. Prima facie , I find that there was no such provision in Cenvat rules for denial of capital goods credit on the parts imported for replacement, particularly during that period original equipments were not covered under modvat scheme. Compensation scheme from the insurance .....

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AC (AR) ORDER Per: R Periasami: The issue relates to denial of capital goods credit on the spare parts, purchased for replacement of the damaged parts caused due to a fire accident in 2006. 2. Ld. Advocate submits that the original capital goods were purchased in the year 1991 and no modvat credit scheme was available at that time. He submits that after the fire accident, appellants got compensation from the insurance company which includes the excise duty component. He further submits that the .....

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