https://www.taxtmi.com/caselaws?id=97921 Rule 57R, as it stood from 1-3-1997, permitted Modvat credit on capital goods used in the manufacture of final products, and the later substitution by Notification No. 46/97-C.E. (N.T.) did not change that position for dutiable output manufactured during the intervening period. The presence of exempt plain reel hanks, grey fabrics, or intermediate products attracting nil rate did not by itself defeat credit entitlement where the capital goods were used for dutiable final products. The amendment could not be read to deny credit merely because exempt goods were also manufactured in the same period, and the Revenue's objection was rejected. en-us Fri, 15 Jun 2001 00:00:00 +0530 Wed, 18 Jan 2012 15:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97921 Rule 57R, as it stood from 1-3-1997, permitted Modvat credit on capital goods used in the manufacture of final products, and the later substitution by Notification No. 46/97-C.E. (N.T.) did not change that position for dutiable output manufactured during the intervening period. The presence of exempt plain reel hanks, grey fabrics, or intermediate products attracting nil rate did not by itself defeat credit entitlement where the capital goods were used for dutiable final products. The amendment could not be read to deny credit merely because exempt goods were also manufactured in the same period, and the Revenue's objection was rejected. Case-Laws Central Excise Fri, 15 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97921