Assessee can claim Modvat/Cenvat credit on usable capital goods written off in books. Appeal dismissed.

The High Court of Bombay held that an assessee can claim Modvat/Cenvat credit on capital goods written off in books but not obsolete if they remain usable. The appeal was dismissed without costs.

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The High Court of Bombay ruled that an assessee can avail Modvat/Cenvat credit on capital goods written off in books but not obsolete, as long as they can still be utilized. The appeal was dismissed with no costs.

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