https://www.taxtmi.com/caselaws?id=105089 Modvat credit on Phenol failed because Thinner was not a genuine intermediate product in an integrated manufacturing process. The material showed that Thinner was separately manufactured by mixing Phenol and other solvents, then later used only to adjust the viscosity of insulating varnish. Rule 57-D protected credit only where an intermediate product emerged during the manufacture of the final dutiable goods and was used within the factory for that purpose. Since the manufacture of Thinner and insulating varnish were separate and independent processes, the statutory condition was not met and the credit claim was not admissible. en-us Mon, 30 Nov 1998 00:00:00 +0530 Fri, 02 Mar 2012 14:40:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105089 Modvat credit on Phenol failed because Thinner was not a genuine intermediate product in an integrated manufacturing process. The material showed that Thinner was separately manufactured by mixing Phenol and other solvents, then later used only to adjust the viscosity of insulating varnish. Rule 57-D protected credit only where an intermediate product emerged during the manufacture of the final dutiable goods and was used within the factory for that purpose. Since the manufacture of Thinner and insulating varnish were separate and independent processes, the statutory condition was not met and the credit claim was not admissible. Case-Laws Central Excise Mon, 30 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105089