https://www.taxtmi.com/caselaws?id=50741 Modvat credit was treated as admissible on lubricants, electrodes, P.M. Shafts and disinfectants because the items were covered by the cited Larger Bench decisions and satisfied the substantive eligibility conditions. Electrodes were accepted as capital goods, and the objection based on non-filing of declaration for P.M. Shafts and disinfectants was not upheld where the necessary particulars were available and the prevailing legal position and departmental circular supported credit. The disallowance and penalty were therefore not sustainable, with consequential relief following in accordance with law. en-us Mon, 02 Jul 2001 00:00:00 +0530 Fri, 03 Sep 2010 10:47:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50741 Modvat credit was treated as admissible on lubricants, electrodes, P.M. Shafts and disinfectants because the items were covered by the cited Larger Bench decisions and satisfied the substantive eligibility conditions. Electrodes were accepted as capital goods, and the objection based on non-filing of declaration for P.M. Shafts and disinfectants was not upheld where the necessary particulars were available and the prevailing legal position and departmental circular supported credit. The disallowance and penalty were therefore not sustainable, with consequential relief following in accordance with law. Case-Laws Central Excise Mon, 02 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50741