Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home List
← Previous Next →

2018 (4) TMI 656

ssue decided in the case of PCOMMR. OF CENTRAL EXCISE Versus INDIAN PETROCHEMICALS CORPN. LTD. [2007 (8) TMI 359 - HIGH COURT OF JUDICATURE AT BOMBAY], where it was held that The Tribunal in a long line of judgments where goods have been shown as written off in the books, have taken a view that the benefit is available - credit allowed - appeal allowed - decided in favor of appellant. - E/847/2011 - A/85595/2018 - Dated:- 12-3-2018 - Shri M V Ravindran, Member (Judicial) Shri RV Shetty, Advocate for appellant Shri SJ Sahu, Assistant Commissioner (AR) for respondent This appeal is directed against Order-in-Appeal No: PKS/527/BEL/2010 dated 24/02/2011 passed by the Commissioner of Central Excise (Appeals), Mumbai Zone-II 2. Heard both the sid .....

X X X X X X X

Full Text of the Document

X X X X X X X

ontrary to the law decided by the Division Bench of the Tribunal in the case of Philips Electronics (India) Ltd v. Commissioner of Central Excise, Pune [2011 (204) ELT 311(Tri.-Mumbai)]. 6. Identical issue came up before the Tribunal and it is undisputed in the case in hand, that the obsolete capital goods and the inputs were written off in the year 2005. The judgment of the Tribunal in the case of Philips Electronics (India) Limited reproduces the provisions which were brought into the statute on this point. I reproduce the said paragraph: '13. To decide the issue, we have to go through the provisions of law, which deals such a situation and Rule 3(5) of Cenvat Credit Rules, 2004 deals with the situation, which is reproduced herein as .....

X X X X X X X

Full Text of the Document

X X X X X X X

ced by 2.5 per cent for each quarter of a year or part thereof from the date of taking the Cenvat Credit;". [Inserted vide Notification No. 39/2007-Central Excise (N.T.), dated 13-11-2007] (5A) If the capital goods are cleared as waste and scrap, the manufacturer shall pay an amount equal to the duty leviable on transaction value. [Above sub-rule (5A) has been inserted vide Notification No. 27/2005-C.E. (N.T.), dated 16-5-2005] (5B) If the value of any, input, or (ii) capital goods before being put to use, on which CENVAT Credit has been taken is written off fully or where any provision to write off fully has been made in the books of account, then the manufacturer shall pay an amount equivalent to the CENVAT credit taken in respect of .....

X X X X X X X

Full Text of the Document

X X X X X X X

manufacturer or service provider as the case may be shall pay an amount equivalent to the Cenvat credit taken in respect of the said input or capital goods. Admittedly, these provisions have come into force on 11-5-2007. The period in the case in hand is prior to 11-5-2007, therefore, the provisions of Rule 3(5)(b) of the Cenvat Credit Rules, 2004 are not applicable to the facts of this case as held by the Hon'ble Bombay High Court on Hindalco Industries Ltd. case cited supra. In case's of M/S. Kinetic Motors Co. Ltd., cited supra, Jindal Vijayanagar Steel Ltd., cited supra and AUDCO India Ltd., cited supra, this Tribunal has, time and again, held that demand of duty or reversal of Cenvat Credit cannot be made in respect of inputs o .....

X X X X X X X

Full Text of the Document

X X X X X X X

 

 

← Previous Next →

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Blog || Site Map - Recent || Site Map ||