https://www.taxtmi.com/caselaws?id=95879 Modvat credit was held admissible on Low Sulphur Heavy Stock used as fuel for captive generation of electricity, where that electricity was in turn used in the manufacture of dutiable final products. The Tribunal applied the Larger Bench ruling that such fuel qualifies as an input for Modvat purposes and that a coordinate Bench must follow that binding ratio. Although the matter was stated to be pending before the Supreme Court, the existing precedent remained operative, so denial of credit was unsustainable. The impugned order was set aside and the assessee received consequential relief as admissible in law. en-us Tue, 02 Jan 2001 00:00:00 +0530 Thu, 15 Dec 2011 16:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95879 Modvat credit was held admissible on Low Sulphur Heavy Stock used as fuel for captive generation of electricity, where that electricity was in turn used in the manufacture of dutiable final products. The Tribunal applied the Larger Bench ruling that such fuel qualifies as an input for Modvat purposes and that a coordinate Bench must follow that binding ratio. Although the matter was stated to be pending before the Supreme Court, the existing precedent remained operative, so denial of credit was unsustainable. The impugned order was set aside and the assessee received consequential relief as admissible in law. Case-Laws Central Excise Tue, 02 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95879