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 inad

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