2008 (4) TMI 638 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Ahmedabad allowed the appellant's Modvat credit claim for capital goods acquired under a lease agreement, stating that the rules do not restrict credit based on the lessor being a financing company as per RBI rules. The tribunal found no reason to direct the appellant to deposit any duty and unconditionally allowed the stay petition.