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<h1>Appellate Tribunal permits Revenue's appeal on Modvat credit disallowance, remands for penalty on credit use.</h1> The Appellate Tribunal allowed the Revenue's appeal regarding the disallowance of Modvat credit for certain items and remanded the matter for imposing a ... Modvat on capital goods The Appellate Tribunal allowed Revenue's appeal on disallowance of Modvat credit for EPABX, Conbertra, and Automatic Data Processing Machines. The Tribunal remanded the matter for imposing a penalty on the respondents for the amount of credit utilized before reversal.