https://www.taxtmi.com/caselaws?id=97657 Modvat credit under Rule 57Q of the Central Excise Rules, 1944 depended on whether the goods qualified as capital goods. A Larger Bench ruling had already held that a switch board panel falls within the expression "capital goods", and that binding precedent must be followed by the lower appellate authority while it remains good law. Applying that ruling, the Tribunal treated the issue as settled in favour of the assessee and held the credit admissible on the switch board panel and other covered capital goods. en-us Fri, 20 Oct 2000 00:00:00 +0530 Tue, 17 Jan 2012 16:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97657 Modvat credit under Rule 57Q of the Central Excise Rules, 1944 depended on whether the goods qualified as capital goods. A Larger Bench ruling had already held that a switch board panel falls within the expression "capital goods", and that binding precedent must be followed by the lower appellate authority while it remains good law. Applying that ruling, the Tribunal treated the issue as settled in favour of the assessee and held the credit admissible on the switch board panel and other covered capital goods. Case-Laws Central Excise Fri, 20 Oct 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97657