https://www.taxtmi.com/caselaws?id=50962 Rule 57Q was read broadly to extend Modvat credit not only to complete machinery but also to components, spares and accessories, and even pipes and tubes used for conveying inputs. On that basis, M.S. rods, beams, channels and angles used to support a furnace for glass melting were treated as part of the furnace's functional set-up, making credit admissible on those materials. The cited stay order was treated as having no precedential value, while a contrary reported decision was relied on to support eligibility. Penalty was held unsustainable on the facts because no sufficient grounds for its imposition were found. en-us Wed, 06 Jun 2001 00:00:00 +0530 Mon, 20 Sep 2010 17:52:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50962 Rule 57Q was read broadly to extend Modvat credit not only to complete machinery but also to components, spares and accessories, and even pipes and tubes used for conveying inputs. On that basis, M.S. rods, beams, channels and angles used to support a furnace for glass melting were treated as part of the furnace's functional set-up, making credit admissible on those materials. The cited stay order was treated as having no precedential value, while a contrary reported decision was relied on to support eligibility. Penalty was held unsustainable on the facts because no sufficient grounds for its imposition were found. Case-Laws Central Excise Wed, 06 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50962