https://www.taxtmi.com/caselaws?id=103639 Modvat credit was admissible on the TFO machine because it was used for multifolding and twisting yarn, an activity treated as part of manufacture under the tariff notes, so the machine qualified as capital goods. Credit could not be denied merely because wool top and yarn were intermediate products carrying nil duty in a composite manufacturing unit where the final fabric was dutiable. The credit claim was therefore upheld and the revenue challenge failed. en-us Fri, 31 Aug 2001 00:00:00 +0530 Fri, 24 Feb 2012 11:23:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103639 Modvat credit was admissible on the TFO machine because it was used for multifolding and twisting yarn, an activity treated as part of manufacture under the tariff notes, so the machine qualified as capital goods. Credit could not be denied merely because wool top and yarn were intermediate products carrying nil duty in a composite manufacturing unit where the final fabric was dutiable. The credit claim was therefore upheld and the revenue challenge failed. Case-Laws Central Excise Fri, 31 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103639