https://www.taxtmi.com/caselaws?id=114949 Disputed items were treated as capital goods for Modvat credit under Rule 57Q because they functioned as components of the manufacturing machinery. The Air Tank was accepted as part of the machinery used in manufacture, Transformer oil fell within the amended explanatory entry covering lubricating oils, greases, cutting oils and coolants, and the expandable Thermocouple also qualified as part of capital goods. On that basis, denial of credit was unsustainable and Modvat credit was admissible. en-us Mon, 24 Jan 2005 00:00:00 +0530 Tue, 22 May 2012 15:38:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114949 Disputed items were treated as capital goods for Modvat credit under Rule 57Q because they functioned as components of the manufacturing machinery. The Air Tank was accepted as part of the machinery used in manufacture, Transformer oil fell within the amended explanatory entry covering lubricating oils, greases, cutting oils and coolants, and the expandable Thermocouple also qualified as part of capital goods. On that basis, denial of credit was unsustainable and Modvat credit was admissible. Case-Laws Central Excise Mon, 24 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114949