https://www.taxtmi.com/caselaws?id=103723 Compressors, condensers and solenoid valves used for air-conditioning were held to fall within the express exclusion in Rule 57Q for compressors and for expansion or solenoid valves of the kind used in refrigerator or air-conditioning machinery, so Modvat credit was not admissible. On penalty, the record did not show that the assessee knew the credit was ineligible when taken, and penalty was therefore not warranted. The credit denial was upheld, while the penalty was deleted, giving the Revenue only partial relief. en-us Wed, 17 Oct 2001 00:00:00 +0530 Fri, 24 Feb 2012 14:22:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103723 Compressors, condensers and solenoid valves used for air-conditioning were held to fall within the express exclusion in Rule 57Q for compressors and for expansion or solenoid valves of the kind used in refrigerator or air-conditioning machinery, so Modvat credit was not admissible. On penalty, the record did not show that the assessee knew the credit was ineligible when taken, and penalty was therefore not warranted. The credit denial was upheld, while the penalty was deleted, giving the Revenue only partial relief. Case-Laws Central Excise Wed, 17 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103723