https://www.taxtmi.com/caselaws?id=110404 Modvat credit on capital goods was treated as admissible where the assessee produced a manufacturer's certificate showing payment of excise duty and a finance company certificate stating that the lease amount excluded duty and that the duty was separately paid by the assessee. On that factual record, the requirement of Rule 57R(3) of the Central Excise Rules was found satisfied, because the lease arrangement did not contradict the ement of duty payment by the assessee. The order dropping the proceedings was therefore found free from infirmity, and the Revenue's challenge failed. en-us Thu, 04 Dec 2003 00:00:00 +0530 Mon, 16 Apr 2012 16:27:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110404 Modvat credit on capital goods was treated as admissible where the assessee produced a manufacturer's certificate showing payment of excise duty and a finance company certificate stating that the lease amount excluded duty and that the duty was separately paid by the assessee. On that factual record, the requirement of Rule 57R(3) of the Central Excise Rules was found satisfied, because the lease arrangement did not contradict the ement of duty payment by the assessee. The order dropping the proceedings was therefore found free from infirmity, and the Revenue's challenge failed. Case-Laws Central Excise Thu, 04 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110404