2001 (12) TMI 571 - AT - Central Excise

Summary

The Revenue's appeal challenged the Modvat credit allowed by the Commissioner (Appeals) to the respondents on certain goods treated as inputs. The Tribunal held that the goods were eligible as capital goods for Modvat credit under Rule 57Q, not as inputs. The appeal was disposed of in favor of the appellant, and cross objections by the respondents were rejected. The Tribunal's decision in Steel Ingots Ltd. was deemed not good law in light of a High Court ruling.