2002 (4) TMI 607 - AT - Central Excise

Summary

The appeal was filed by M/s. Rishabh Steels Ltd. against the denial of Modvat credit on certain items like welding electrodes, MS angles, fuses, relays, and other electrical parts. The authorities held that some items were not capital goods. The tribunal ruled that Modvat credit would be admissible on MS angles as they are part of the furnace, which is a capital good. The tribunal also confirmed that welding electrodes and other electrical parts are capital goods, allowing the appeal of the assessee.