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<h1>Tribunal allows Modvat credit for lubricating oil and flex oil in manufacturing process.</h1> The Revenue's appeal against allowing Modvat credit for flex oil and lubricating oil was rejected by the Tribunal. It was held that lubricating oil used ... Modvat The Revenue appealed against the order allowing Modvat credit for flex oil and lubricating oil. The Tribunal held that lubricating oil used in manufacturing final products is eligible for Modvat credit. Flex oil was considered essential for manufacturing final products, so the appeal was rejected.