https://www.taxtmi.com/caselaws?id=347581 The Tribunal allowed the appeal of M/s. MIRC Electronics Ltd. concerning the denial of credit on items used in their manufacturing process. The Tribunal emphasized that capitalizing goods in the balance sheet was not a prerequisite for credit under Central Excise law. It distinguished the definition of capital goods in the Central Excise Act from that in the Companies Act and highlighted the specific uses of the items in manufacturing. Relying on precedents, the Tribunal allowed credit on paint and synthetic grease, concluding in favor of the appellant. en-us Wed, 09 Aug 2017 00:00:00 +0530 Wed, 06 Sep 2017 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347581 The Tribunal allowed the appeal of M/s. MIRC Electronics Ltd. concerning the denial of credit on items used in their manufacturing process. The Tribunal emphasized that capitalizing goods in the balance sheet was not a prerequisite for credit under Central Excise law. It distinguished the definition of capital goods in the Central Excise Act from that in the Companies Act and highlighted the specific uses of the items in manufacturing. Relying on precedents, the Tribunal allowed credit on paint and synthetic grease, concluding in favor of the appellant. Case-Laws Central Excise Wed, 09 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347581