2006 (2) TMI 376

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....dent. [Order per : P.G. Chacko, Member (J)]. - The lower authorities have disallowed Modvat credit amounting to Rs. 19,94,383/- to the appellants for the month of March, 2001 in respect of certain goods which were claimed to be capital goods eligible for Modvat credit. They have also imposed on the party a penalty of Rs. 1,000/-. 2. After examining the records and hearing both sides, we f....

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....f which 'structurals' in question are claimed to be parts/components. During the period of dispute, the eligibility of capital goods for Modvat credit under the relevant rules was dependent on their tariff classification. In other words, capital goods, during that period, were eligible or ineligible for Modvat credit by virtue of their classification in the tariff Hence, apparently, the appellants....