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<h1>Appeal Granted: Credit Allowed on Capital Goods, Penalty Imposed</h1> The Appellate Tribunal CESTAT, Mumbai allowed the appeal, granting credit on capital goods (Stretch Wrapping Machine and Laxmigraf Flat Mounting Machine) ... Cenvat/Modvat - Capital goods The Appellate Tribunal CESTAT, Mumbai allowed the appeal regarding denial of credit on capital goods (Stretch Wrapping Machine and Laxmigraf Flat Mounting Machine) amounting to Rs. 82,750/- and imposed penalty of Rs. 10,000/-. The machines were found eligible for Modvat credit as they were used for packing finished goods and making raw material suitable for use in yarn manufacturing. The impugned order was set aside and the appeal was allowed with consequential benefit.
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