https://www.taxtmi.com/caselaws?id=108186 Modvat credit was treated as admissible on sundry items such as valves, moulded gaskets, loop powered indicator, transformer oil, adhesives and compressor spares because they were required for manufacture and fell within the broadly interpreted concept of capital goods. Earlier Tribunal rulings had already accepted similar items, and the Supreme Court's liberal construction of goods used in manufacture supported that view. As the issue was no longer res integra, denial of credit on these items was set aside and the assessee's claim was held admissible, with consequential relief. en-us Thu, 14 Mar 2002 00:00:00 +0530 Fri, 30 Mar 2012 14:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108186 Modvat credit was treated as admissible on sundry items such as valves, moulded gaskets, loop powered indicator, transformer oil, adhesives and compressor spares because they were required for manufacture and fell within the broadly interpreted concept of capital goods. Earlier Tribunal rulings had already accepted similar items, and the Supreme Court's liberal construction of goods used in manufacture supported that view. As the issue was no longer res integra, denial of credit on these items was set aside and the assessee's claim was held admissible, with consequential relief. Case-Laws Central Excise Thu, 14 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108186