https://www.taxtmi.com/caselaws?id=88472 Modvat credit was held admissible on Light Diesel Oil and Furnace Oil used as fuel to generate steam and electricity for captive consumption in manufacturing carbon black. The Tribunal rejected the view that credit must be denied merely because the resulting steam or electricity was exempt, and treated those utilities as integral intermediates in the manufacturing stream. Applying the amended Rule 57A and the settled line of authority, it held that fuel used to produce captively consumed utilities qualifies for input credit. The denial of credit was therefore set aside in favour of the assessee. en-us Wed, 01 Oct 1997 00:00:00 +0530 Mon, 19 Sep 2011 11:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88472 Modvat credit was held admissible on Light Diesel Oil and Furnace Oil used as fuel to generate steam and electricity for captive consumption in manufacturing carbon black. The Tribunal rejected the view that credit must be denied merely because the resulting steam or electricity was exempt, and treated those utilities as integral intermediates in the manufacturing stream. Applying the amended Rule 57A and the settled line of authority, it held that fuel used to produce captively consumed utilities qualifies for input credit. The denial of credit was therefore set aside in favour of the assessee. Case-Laws Central Excise Wed, 01 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88472