https://www.taxtmi.com/caselaws?id=124559 Modvat credit on capital goods taken on lease was treated as available under Rule 4(3) even where the goods were obtained through lease, hire purchase or loan arrangements from a financing company. The status of the lessor under RBI norms was held not to justify denial of credit at the stay stage, and no sufficient basis was found to require deposit of duty pending appeal. The denial of credit was therefore not sustained for pre-deposit purposes, and unconditional stay was granted. en-us Tue, 01 Apr 2008 00:00:00 +0530 Mon, 01 Oct 2012 17:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124559 Modvat credit on capital goods taken on lease was treated as available under Rule 4(3) even where the goods were obtained through lease, hire purchase or loan arrangements from a financing company. The status of the lessor under RBI norms was held not to justify denial of credit at the stay stage, and no sufficient basis was found to require deposit of duty pending appeal. The denial of credit was therefore not sustained for pre-deposit purposes, and unconditional stay was granted. Case-Laws Central Excise Tue, 01 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124559