2001 (9) TMI 601

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....awal, Advocate, for the Respondent. [Order]. - The Revenue has filed this appeal against the impugned order passed by the ld. Commissioner (Appeals) holding that Modvat credit is admissible on Indwool Ceramic Fibre Blanket. He relied on the decision of this Tribunal in the case of M/s. Comet Steels reported in [1998 (103) E.L.T. 422]. 2. The facts of the case in brief are that the re....

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.... Ceramic Fibre Blanket is neither integral part/accessory of the furnance, nor is it refractory material; that the item in dispute is not in the nature of part or accessory or component of the said furnace because it is basically a consumable item which is used merely for the purpose of lining of the furnace; that it does not come alongwith machinery and was available from shop; that the item was ....

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....Fibre Blanket was declared an accessory of the furnace in terms of Rule 57T, therefore it should be considered as capital goods for the purpose of Modvat credit. He submits that the furnaces are capital goods for the purpose of Modvat credit. In support of his contention, he cites and relies upon the decision of the Tribunal in the case of Comet Steel Limited reported in [1998 (103) E.L.T. 422] an....