2003 (4) TMI 577 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT Mumbai allowed Modvat credit of Rs. 91,519.54 to loan licensees for M/s. Indico Remedies and Tridoss Laboratories. Credit of Rs. 5,363.08 disallowed for being availed on original invoice. Tribunal held credit admissible as inputs were directly delivered for manufacture under a contract. Appeal disposed accordingly.