https://www.taxtmi.com/caselaws?id=52057 Modvat credit on capital goods used in a power plant was held admissible where the plant formed part of a phased expansion project and the assessee's enhanced manufacturing capacity would arise on completion of the project. The Tribunal applied Rule 57R(1) but rejected denial of credit merely because the project was still under implementation and surplus electricity was presently sold outside the factory. Following Bhaskar Industries, it treated the capital goods as being used for eventual manufacture of dutiable final products, so temporary sale of power did not defeat credit eligibility. en-us Fri, 05 Sep 2003 00:00:00 +0530 Tue, 09 Jul 2024 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52057 Modvat credit on capital goods used in a power plant was held admissible where the plant formed part of a phased expansion project and the assessee's enhanced manufacturing capacity would arise on completion of the project. The Tribunal applied Rule 57R(1) but rejected denial of credit merely because the project was still under implementation and surplus electricity was presently sold outside the factory. Following Bhaskar Industries, it treated the capital goods as being used for eventual manufacture of dutiable final products, so temporary sale of power did not defeat credit eligibility. Case-Laws Central Excise Fri, 05 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52057