2001 (9) TMI 839

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....eard both sides. 2. Revenue filed this appeal against the order-in-appeal passed by the Commissioner (Appeals) whereby the benefit of Modvat credit in respect of following items was allowed : (i)      Spare for High Speed Pinion Shaft Matching Gear Wheel Intermediate Pinion Shaft (ii)     Hold Back Device (iii)    Inductive Proxi....

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....s very wide. Capital goods can be machines, machinery, plant, equipment, apparatus, tools or ap­pliances. Any of these goods if used for producing or processing of any goods or for bringing about any change in any substance for the manufacture of final product would be 'Capital goods', and, therefore, qualify for availing Modvat credit. Per clause (b), the components, spare parts and accessori....