https://www.taxtmi.com/caselaws?id=103995 Wire mesh, felts and similar items used in paper manufacture were treated as inputs under Rule 57A of the Central Excise Rules, so Modvat credit was admissible. The department's objection, including the point that a declaration had been filed under Rule 57T and the assessee had claimed depreciation under the Income Tax Act, did not justify denial of credit in view of settled Tribunal precedent and the Larger Bench decision relied on. The disallowance of credit was therefore set aside and the assessee's entitlement to Modvat credit was upheld. en-us Fri, 08 Feb 2002 00:00:00 +0530 Sat, 25 Feb 2012 12:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103995 Wire mesh, felts and similar items used in paper manufacture were treated as inputs under Rule 57A of the Central Excise Rules, so Modvat credit was admissible. The department's objection, including the point that a declaration had been filed under Rule 57T and the assessee had claimed depreciation under the Income Tax Act, did not justify denial of credit in view of settled Tribunal precedent and the Larger Bench decision relied on. The disallowance of credit was therefore set aside and the assessee's entitlement to Modvat credit was upheld. Case-Laws Central Excise Fri, 08 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103995