CEGAT rules fan coils not capital goods; Modvat credit disallowed. Tribunal sides with Respondents, rejects Revenue Appeal.

The Appellate Tribunal CEGAT upheld the disallowance of Modvat credit on fan coils, ruling they are not capital goods, citing a previous case precedent. The Tribunal found in favor of the Respondents and rejected the Revenue Appeal.

---

---

The Appellate Tribunal CEGAT, New Delhi upheld the disallowance of Modvat credit of Rs. 5304 on fan coils, ruling they are not capital goods. The Tribunal cited a previous case where chilled water coils were considered capital goods. The Tribunal found in favor of the Respondents based on this precedent and rejected the Revenue Appeal.

---