https://www.taxtmi.com/caselaws?id=83962 MODVAT credit was unavailable on steel barrels used to carry transformer oil sent with transformers because the oil was not shown to form part of the transformer at clearance, and the transformer was complete once its electrical components were in place. The oil therefore was not a component part, and the barrels could not be treated as packing material for MODVAT purposes. Inclusion of the oil and barrel values in the assessable value under Section 4 did not determine credit eligibility, since MODVAT operates under its own statutory scheme. Denial of credit was upheld. en-us Wed, 30 Nov 1994 00:00:00 +0530 Mon, 18 Jul 2011 18:55:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83962 MODVAT credit was unavailable on steel barrels used to carry transformer oil sent with transformers because the oil was not shown to form part of the transformer at clearance, and the transformer was complete once its electrical components were in place. The oil therefore was not a component part, and the barrels could not be treated as packing material for MODVAT purposes. Inclusion of the oil and barrel values in the assessable value under Section 4 did not determine credit eligibility, since MODVAT operates under its own statutory scheme. Denial of credit was upheld. Case-Laws Central Excise Wed, 30 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83962