2004 (8) TMI 217

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n, Member (T)]. - After hearing both sides & considering the issues it is found- (a)     Revenue is in appeal against the respondents an assessee be denied on storage tanks based on eligibility and on filing of declaration. (b)     Commissioner granted the credit as nitrogen was exclusively captively consumed and not marketed outside and the descriptio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of credit on the same not called. (iii)    Declaration were mandatory and details were required and Sr. No. pre-deposit printed was a requirement of law. (d)     Commissioner after an analysis of the process of manufacture adopted concluded that nitrogen gas was vital input in the manufacture of pipes and without use of nitrogen the pipes would not be poss....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....erein would apply, if goods are on lease from a 'finance company'. That rule cannot be interpreted to mean, that no 'lease' could be had of 'capital goods' from other than a "Finance Company". We find no merits in the ground taken by revenue credit on nitrogen plant as capital goods is eligible. (e)     As regards storage tank eligibility, it is part and component of the pla....