2002 (12) TMI 185

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.... credit initially allowed by the Assistant Commissioner has been denied by the Commissioner (Appeals) in respect of CNC Panel Cooler and split Air Conditioner. The learned Chartered Accountant for the appellants states that both the items are eligible for Modvat credit under the Entry at Sr. No. 5 of the Table in Rule 57Q which allowed components, spares and accessories of the goods specified agai....

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.... that under Sr. No. 2 of the Table annexed to Rule 57Q, the CNC Cooling Panel and Air Conditioner are not eligible for Modvat credit as both are classified under heading 84.15 and are specifically excluded. He also states that these items cannot also be considered as parts or accessories under Sr. No. 5 of the said Table. 4. After hearing rival submissions and perusal of case records I find tha....