https://www.taxtmi.com/caselaws?id=88928 Steel sheets used to fabricate molasses tanks were held not to qualify as capital goods under Rule 57Q because they were merely inputs for making the tanks and not parts, spares, accessories, plant, machinery or equipment themselves. The Tribunal distinguished the cited authorities and applied the principle that goods used to manufacture an item do not become capital goods simply because the finished item is later used in production. Modvat credit was therefore denied, and the assessee's appeal failed on merits. en-us Tue, 21 Jul 1998 00:00:00 +0530 Thu, 22 Sep 2011 12:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88928 Steel sheets used to fabricate molasses tanks were held not to qualify as capital goods under Rule 57Q because they were merely inputs for making the tanks and not parts, spares, accessories, plant, machinery or equipment themselves. The Tribunal distinguished the cited authorities and applied the principle that goods used to manufacture an item do not become capital goods simply because the finished item is later used in production. Modvat credit was therefore denied, and the assessee's appeal failed on merits. Case-Laws Central Excise Tue, 21 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88928