2003 (7) TMI 565 - AT - Central Excise

Summary

The appeal was filed regarding Modvat credit for capital goods received before 1-4-2000 but installed later. The CENVAT Rules allow for 50% credit in such cases. The Board's Circular dated 3-4-2000 also supports this. The authorities below wrongly disallowed the credit, which was overturned in favor of the appellants. The appeal was allowed with consequential relief.