https://www.taxtmi.com/caselaws?id=49995 M.S. fabricated tanks used in the sugar manufacturing process were treated as capital goods eligible for Modvat credit under Rule 57Q because they had a functional nexus with production, including use as receptacles for sulphated syrup and for preparation of milk of lime. The rejection of credit was found unsustainable where the appellate authority had treated the tanks merely as storage vessels without examining their manufacturing role. As the credit was admissible, the penalty imposed for alleged wrongful availment of credit also could not stand. en-us Fri, 21 Jan 2000 00:00:00 +0530 Thu, 19 Aug 2010 10:09:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49995 M.S. fabricated tanks used in the sugar manufacturing process were treated as capital goods eligible for Modvat credit under Rule 57Q because they had a functional nexus with production, including use as receptacles for sulphated syrup and for preparation of milk of lime. The rejection of credit was found unsustainable where the appellate authority had treated the tanks merely as storage vessels without examining their manufacturing role. As the credit was admissible, the penalty imposed for alleged wrongful availment of credit also could not stand. Case-Laws Central Excise Fri, 21 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49995