https://www.taxtmi.com/caselaws?id=85162 Cutting oils, quenching oils and testing oils used merely as lubricants or process aids in manufacturing tractor and motor vehicle components do not qualify as "raw materials" or "component parts" for set-off credit under Notification No. 201/79-C.E. as amended. Applying the plain and popular meaning of those expressions, the goods must either serve as the starting material of manufacture or form part of the finished product; because the oils only facilitated machining, heat treatment and testing, they fell outside the notification. The amended notification was construed strictly, and the denial of set-off credit was upheld. en-us Mon, 08 May 1995 00:00:00 +0530 Wed, 03 Aug 2011 11:00:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85162 Cutting oils, quenching oils and testing oils used merely as lubricants or process aids in manufacturing tractor and motor vehicle components do not qualify as "raw materials" or "component parts" for set-off credit under Notification No. 201/79-C.E. as amended. Applying the plain and popular meaning of those expressions, the goods must either serve as the starting material of manufacture or form part of the finished product; because the oils only facilitated machining, heat treatment and testing, they fell outside the notification. The amended notification was construed strictly, and the denial of set-off credit was upheld. Case-Laws Central Excise Mon, 08 May 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85162