https://www.taxtmi.com/caselaws?id=52795 Oxygen storage tanks installed in a plant were treated as eligible for Modvat credit under Rule 57Q because they functioned as essential components of plant and machinery. A departmental circular was relied on to confirm that parts, components and accessories used with capital goods covered by Explanation (1) to Rule 57Q could qualify for credit even if classifiable under a chapter heading not listed in the capital goods table. Functional use, rather than tariff classification alone, determined eligibility, so the credit was allowed and the Revenue's objection failed. en-us Wed, 17 Mar 2004 00:00:00 +0530 Thu, 07 Oct 2010 18:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52795 Oxygen storage tanks installed in a plant were treated as eligible for Modvat credit under Rule 57Q because they functioned as essential components of plant and machinery. A departmental circular was relied on to confirm that parts, components and accessories used with capital goods covered by Explanation (1) to Rule 57Q could qualify for credit even if classifiable under a chapter heading not listed in the capital goods table. Functional use, rather than tariff classification alone, determined eligibility, so the credit was allowed and the Revenue's objection failed. Case-Laws Central Excise Wed, 17 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52795