2009 (10) TMI 306

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....ocate, for the Appellant. Ms. Indira Sisupal, JDR, for the Respondent. [Order per: Jyoti Balasundaram, Vice-President]. - The appellants herein are manufacturers of cotton yarn exigible to duty under Chapter 52 of First Schedule to Central Excise Tariff Act, 1985. They availed capital goods credit for the following items. S.No. Name of the capital goods. 1. Ring Frame 2. Ca....

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....e order the assessee has come up in appeal before us. 3. We have heard both sides. During the relevant period Rule 57R(3) read as under:- "No credit of the specified duty paid on the capital goods shall be allowed if such capital goods are acquired by a manufacturer on lease, hire-purchase, loan or by any other transaction other than direct purchase, whereby the property in the said capital ....

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....njunction with the machines and machineries used for the preparatory stages in the manufacture of cotton yarn) and Lickerin, Mounting Grinding and Polishing machine is used in mounting which are the major parts of the calendering machine are therefore covered by the definition of capital goods under Rule 57Q, which at the relevant point of time meant "machines, machinery, plant, equipment, apparat....