https://www.taxtmi.com/caselaws?id=54046 Modvat credit on capital goods used to produce an exempt intermediate product is admissible where that intermediate product is captively consumed in the manufacture of dutiable final goods. The Board's circular and consistent Tribunal view treated the emergence of an exempt intermediate product as irrelevant by itself when the finished goods are chargeable to duty. On that basis, denial of credit was held unsustainable and the assessee was entitled to the credit. en-us Thu, 12 May 2005 00:00:00 +0530 Sat, 16 Oct 2010 15:46:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54046 Modvat credit on capital goods used to produce an exempt intermediate product is admissible where that intermediate product is captively consumed in the manufacture of dutiable final goods. The Board's circular and consistent Tribunal view treated the emergence of an exempt intermediate product as irrelevant by itself when the finished goods are chargeable to duty. On that basis, denial of credit was held unsustainable and the assessee was entitled to the credit. Case-Laws Central Excise Thu, 12 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54046