1999 (2) TMI 211

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....Rs. 1.364 crores approximately. 2. The advocate for the applicant says that the question in each of these applications is resultant Modvat credit under Rule 57Q of various items. We deal with each of these items. 3. Rs. 45.96 lakhs has been denied as credit on nuts bolts, screws and other such fasteners, the basis for which proceedings are not entirely clear. The notice issued alleges that they were not used for producing or processing of goods. In reply, the assessee had contended that the goods are "essential for assembling of various components and parts to make the entire plant". We are unable, at this stage, to agree that the meaning ascribed to these words by the advocate for the applicant that these are used to being ....

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....sioner had allowed credit on such goods under Rule 57A; they would have been declared as input under that rule. They would therefore, prima facie, entitled to credit under Rule 57A. 6. Electrical transformers and their accessories (amounting to Rs. 12.47 lakhs) have been held not to be capital goods on the ground that they are of capacity less than 75KVA; Commissioner says that only transformers exceeding this capacity were permitted credit in terms of sub-clause (v) of clause (d) of Explanation 1 to Rule 57Q introduced from 16-3-1995 and thus transformers of a lower capacity will not be capital goods. The credit was taken in February, 1995 prior to this amendment; prima facie, applicability of this amendment is doubtful. Transforme....