https://www.taxtmi.com/caselaws?id=103895 Modvat credit on capital goods used to make intermediate tools was admissible where those tools were captively consumed in producing dutiable final products. The Revenue did not dispute that the intermediate tools were used in the manufacture of dutiable final goods, and the operative principle was that exemption of the intermediate product does not defeat credit on the capital goods used in its manufacture when the final product is dutiable. On that basis, the credit was held admissible and the denial was set aside. en-us Mon, 07 Jan 2002 00:00:00 +0530 Fri, 24 Feb 2012 18:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103895 Modvat credit on capital goods used to make intermediate tools was admissible where those tools were captively consumed in producing dutiable final products. The Revenue did not dispute that the intermediate tools were used in the manufacture of dutiable final goods, and the operative principle was that exemption of the intermediate product does not defeat credit on the capital goods used in its manufacture when the final product is dutiable. On that basis, the credit was held admissible and the denial was set aside. Case-Laws Central Excise Mon, 07 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103895