https://www.taxtmi.com/caselaws?id=116387 Storage tanks specially designed for industrial gas storage were treated as eligible for Modvat credit under Rule 57Q because they functioned as accessories or components of the plant. The analysis turned on serial No. 5 of the Rule 57Q table, which allows credit for plant accessories and components, and on the tanks' operational role in preventing evaporation and leakage. The tanks were distinguished from equipment used merely to store inputs, and from cases where the relevant provision was not considered. On that basis, denial of credit was found unsustainable, and entitlement to Modvat credit was affirmed. en-us Mon, 04 Jul 2005 00:00:00 +0530 Tue, 12 Jun 2012 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116387 Storage tanks specially designed for industrial gas storage were treated as eligible for Modvat credit under Rule 57Q because they functioned as accessories or components of the plant. The analysis turned on serial No. 5 of the Rule 57Q table, which allows credit for plant accessories and components, and on the tanks' operational role in preventing evaporation and leakage. The tanks were distinguished from equipment used merely to store inputs, and from cases where the relevant provision was not considered. On that basis, denial of credit was found unsustainable, and entitlement to Modvat credit was affirmed. Case-Laws Central Excise Mon, 04 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116387