2004 (1) TMI 270

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....ppellants against the impugned order-in-appeal, the issue relates to the availability of Modvat credit on capital goods i.e. Steel Tanks manufactured, and thereafter captively used by the appellants without payment of duty, in terms of Notification No. 67/95-C.E., dated 16-3-95. The Commissioner (Appeals) has denied the Modvat credit on the ground that these goods did not stand covered as capital ....

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....ircular No. 276/110/96-TRU, dated 2-12-96 in order to corroborate his contention. 3. On the other hand, the learned SDR has reiterated the correctness of the impugned order. I have heard both sides and gone through the record. 4. The facts emerging out of the material brought on record are, these; the appellants have claimed Modvat credit on storage tanks which were manufactured by them and ....

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....on i.e. storage tanks have not been specified against Sl. No 1 to 4. The reliance of the learned Counsel on the Board Circular dated 2-12-96 referred to above, is also of no avail to the appellants. Para 4 of the said Circular on which the learned Counsel has heavily relied upon only clarifies that all parts, components, accessories, which are to be used with capital goods of clauses (a) to (c) of....