https://www.taxtmi.com/caselaws?id=128146 Welding electrodes used only for maintenance and repair of machinery did not qualify as capital goods for Modvat credit under Rule 57Q, so credit was denied on that item. Penalty was unwarranted because the eligibility issue was debatable and supported by conflicting judicial views, so penalty was deleted. Credit on foundation bolts was admissible because earlier Tribunal precedent had already settled that position in favour of the assessee, and the allowance was sustained. en-us Fri, 31 Jul 2009 00:00:00 +0530 Thu, 22 Jun 2017 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128146 Welding electrodes used only for maintenance and repair of machinery did not qualify as capital goods for Modvat credit under Rule 57Q, so credit was denied on that item. Penalty was unwarranted because the eligibility issue was debatable and supported by conflicting judicial views, so penalty was deleted. Credit on foundation bolts was admissible because earlier Tribunal precedent had already settled that position in favour of the assessee, and the allowance was sustained. Case-Laws Central Excise Fri, 31 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128146