https://www.taxtmi.com/caselaws?id=96302 Air conditioner and air compressor were treated as "capital goods" under Rule 57Q, making Modvat credit admissible. Earlier Tribunal decisions supporting that classification could not be ignored merely because reference applications were pending in the High Court; absent any stay or reversal by a superior forum, those decisions continued to have binding force. The challenge to denial of credit therefore failed. en-us Tue, 16 Jan 2001 00:00:00 +0530 Tue, 20 Dec 2011 17:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96302 Air conditioner and air compressor were treated as "capital goods" under Rule 57Q, making Modvat credit admissible. Earlier Tribunal decisions supporting that classification could not be ignored merely because reference applications were pending in the High Court; absent any stay or reversal by a superior forum, those decisions continued to have binding force. The challenge to denial of credit therefore failed. Case-Laws Central Excise Tue, 16 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96302