CENVAT Credit Denial Set Aside on Air Separation Plant Goods: CESTAT Hyderabad

Advertisement ITC Ltd. Vs Pr. Commissioner of Central Tax Rangareddy – GST (CESTAT Hyderabad) The CESTAT Hyderabad allowed the appeal filed against the Order-in-Original dated 31.03.2013, which had disallowed CENVAT credit of ₹1,89,28,243 on capital goods and inputs used for setting up an Air Separation Plant, confirmed interest under Rule 14 of the CENVAT Credit Rules, 2004 read with Section 11AA of the Central Excise Act, 1944, and imposed an equal penalty under Rule 15 of the CENVAT Credit Rules read with Section 11AC of the Act. The appellant, engaged in the manufacture of paper...