2003 (12) TMI 682

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....t. 2. The question for consideration in this appeal is whether Modernova Plastyles Pvt. Ltd. who manufactured on job work for Mirc Electronics Ltd. cabinets for television sets by using moulds owned and supplied by the latter, could take credit under 57Q of the duty paid on these moulds by their manufacturer. In the order impugned in the appeal, the Commissioner has found such credit to be impe....

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....lant the Tribunal after examining the provisions of Rule 57R(3) as it was initially introduced and after its amendment on 17.6.1994. It found that while the rule before its amendment prohibited taking of credit on capital goods that had not been transferred by direct purchase to the manufacturer after amendment Sub-rule (3) of Rule 57R specifically provided that credit would be allowed on such cap....