1998 (9) TMI 280

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....Respondents. [Order]. -  This is Revenue appeal against the order passed by the Collector of Central Excise (Appeals), Madras, allowing the Modvat credit on capital goods i.e. Thread Grinding Machine which was manufactured by the assessee in their own factory for their own use in their production. The assessee had filed declaration under Rule 57T on 28-3-1994 and paid duty on the said f....

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....onths from this date i.e. on 17-10-1994 after filing the declaration on 19-7-1994. The AC had held that the assessee had filed declaration much beyond three months from the relevant date i.e. 29-3-1994 and hence he had not condoned the delay and rejected the assessee's claim. The CCE (A) held that on that day when they filed the declaration on 28-3-1994, the capital goods had not been hire purchas....

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....ible for taking Modvat credit as declaration was filed beyond three months. 4. The learned Consultant for the assessee pointed out that they had filed the declaration under Rule 57T(4) on 28-3-1994 and duty was paid on 29-3-1994 and on this day the machinery (capital goods) had not been loaned or hire purchased and hence they were entitled to take Modvat credit as on that date. He further ....

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....ion of the submissions made I do not find any infirmity or illegality in the impugned order. The assessee had filed declaration on 28-3-1994 in terms of Rule 57T(4), inasmuch as the goods were manufactured in their factory for their own use and duty was paid on 29-3-1994 and therefore, they were entitled to take Modvat credit. However as they have not taken Modvat credit on the capital goods and t....