https://www.taxtmi.com/caselaws?id=117300 The Tribunal ruled in favor of the assessee in a dispute over Modvat credit entitlement for Capital Goods not utilized for final product manufacturing. It was determined that the Capital Goods, although not currently operational, were installed and could be utilized in the future, entitling the assessee to the credit. The Tribunal rejected the Revenue's appeal to impose a penalty for irregular Modvat credit availing, emphasizing that the assessee's credit availment was legitimate. As a result, the appeal of the assessee was allowed, and the Revenue's appeal was dismissed. en-us Wed, 28 Sep 2005 00:00:00 +0530 Thu, 21 Jun 2012 16:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117300 The Tribunal ruled in favor of the assessee in a dispute over Modvat credit entitlement for Capital Goods not utilized for final product manufacturing. It was determined that the Capital Goods, although not currently operational, were installed and could be utilized in the future, entitling the assessee to the credit. The Tribunal rejected the Revenue's appeal to impose a penalty for irregular Modvat credit availing, emphasizing that the assessee's credit availment was legitimate. As a result, the appeal of the assessee was allowed, and the Revenue's appeal was dismissed. Case-Laws Central Excise Wed, 28 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117300