https://www.taxtmi.com/caselaws?id=76492 Capital goods credit was treated as admissible on a ring frame bought outright with loan funds and hypothecated to the lender, because hypothecation did not negate ownership in the manufacturer. The calendering machine, grinding machine, linkerin machine and base cylinder grinder were also held to fall within the then-applicable definition of capital goods under Rule 57Q, as machinery used in production and preparatory stages of cotton yarn manufacture. Credit was denied for spares for OMA 121600 AACS, self adhesive tapes and joint adhesive because they were not shown to satisfy the statutory definition or to have the required nexus with capital goods. en-us Wed, 21 Oct 2009 00:00:00 +0530 Mon, 28 Jun 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76492 Capital goods credit was treated as admissible on a ring frame bought outright with loan funds and hypothecated to the lender, because hypothecation did not negate ownership in the manufacturer. The calendering machine, grinding machine, linkerin machine and base cylinder grinder were also held to fall within the then-applicable definition of capital goods under Rule 57Q, as machinery used in production and preparatory stages of cotton yarn manufacture. Credit was denied for spares for OMA 121600 AACS, self adhesive tapes and joint adhesive because they were not shown to satisfy the statutory definition or to have the required nexus with capital goods. Case-Laws Central Excise Wed, 21 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76492