https://www.taxtmi.com/caselaws?id=92846 Modvat credit was treated as admissible on a disc used in a Carbide Slot Cutter for making hosiery and knitting needles, because the disc functioned as a tool in the machine and the credit claim was supported by Rule 57D(2) as brought into force by Notification No. 17/95. That provision allowed credit for inputs used in the manufacture of capital goods as well, and the departmental objection under Rule 57A did not displace the application of Rules 57D and 57Q on the stated facts. The Revenue's challenge therefore failed. en-us Tue, 14 Dec 1999 00:00:00 +0530 Sat, 05 Nov 2011 14:51:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92846 Modvat credit was treated as admissible on a disc used in a Carbide Slot Cutter for making hosiery and knitting needles, because the disc functioned as a tool in the machine and the credit claim was supported by Rule 57D(2) as brought into force by Notification No. 17/95. That provision allowed credit for inputs used in the manufacture of capital goods as well, and the departmental objection under Rule 57A did not displace the application of Rules 57D and 57Q on the stated facts. The Revenue's challenge therefore failed. Case-Laws Central Excise Tue, 14 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92846