Ownership of Capital goods not required for availing CENVAT credit

Brief Facts of the case The assessee is engaged in manufacture of plastic articles/components and parts by using injection moulding machines. In the present matter the moulds, used to manufacture, in this case cabinets for television sets­ the finished product, were supplied to the Assessee by the Original Equipment Manufacturers. The dispute relates to the years 1997­-98, 1998­-99. A show cause notice issued alleging that the assessee has availed and utilized inadmissible Modvat Credit on the moulds as capital goods in contravention of Rules 57Q, 57R(3) and 57(T) of Central Excise Rule, 19...