https://www.taxtmi.com/caselaws?id=52011 The Tribunal ruled in favor of the Revenue, disallowing Modvat credit for goods falling under Chapter 73 of the Central Excise Tariff Act. It held that the storage tanks and structures in question did not qualify as eligible capital goods for availing credit under Rule 57AA. The Tribunal emphasized that a change in classification solely for Modvat credit purposes was impermissible and that goods under Chapter 73 were not eligible for capital goods credit during the relevant period. The Appeal filed by the Revenue was allowed, overturning the previous decision that permitted Modvat credit for goods classified under Chapter 73. en-us Wed, 16 Jul 2003 00:00:00 +0530 Wed, 29 Sep 2010 17:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52011 The Tribunal ruled in favor of the Revenue, disallowing Modvat credit for goods falling under Chapter 73 of the Central Excise Tariff Act. It held that the storage tanks and structures in question did not qualify as eligible capital goods for availing credit under Rule 57AA. The Tribunal emphasized that a change in classification solely for Modvat credit purposes was impermissible and that goods under Chapter 73 were not eligible for capital goods credit during the relevant period. The Appeal filed by the Revenue was allowed, overturning the previous decision that permitted Modvat credit for goods classified under Chapter 73. Case-Laws Central Excise Wed, 16 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52011