https://www.taxtmi.com/caselaws?id=115042 Modvat credit was held admissible on cells, batteries, sleeves and packing materials used with torches because Rule 57B allowed credit on accessories of the final product when their value formed part of the assessable value. The record showed no dispute that the value of the cells was included in the assessable value of the torches, so the disputed items satisfied the statutory condition. On that basis, disallowance of credit and the related penalty were unsustainable. en-us Mon, 07 Mar 2005 00:00:00 +0530 Wed, 23 May 2012 12:52:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115042 Modvat credit was held admissible on cells, batteries, sleeves and packing materials used with torches because Rule 57B allowed credit on accessories of the final product when their value formed part of the assessable value. The record showed no dispute that the value of the cells was included in the assessable value of the torches, so the disputed items satisfied the statutory condition. On that basis, disallowance of credit and the related penalty were unsustainable. Case-Laws Central Excise Mon, 07 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115042