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CESTAT : Allows CENVAT credit on inputs utilised in fabrication / manufacture of capital goods

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CESTAT allows CENVAT credit on items such as channels, angles and coil plates used in fabrication of capital goods, which are further utilised in factory of production; Rejects Revenue’s contention that items fabricated out of said inputs being immovable in nature, are not excisable and hence, credit thereon is inadmissible in terms of Rule 6(1) of CCR; Holds such goods qualify as ‘capital goods’ and also as ‘inputs’ within the meaning of Rule 2(a) r/w Rule 2(k) of CENVAT Credit Rules (CCR); Upholds Commissioner (Appeals) order which held that capital goods embedded to earth is no reason to deny CENVAT credit on inputs used therein; Commissioner (Appeals) had relied on CESTAT decisions in Ritesh Trade Fin Ltd and Divi’s Laboratories Ltd while allowing assessee’s appeal  : Mumbai CESTAT
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