2007 (8) TMI 359 - HC - Central Excise

Cenvat/Modvat credit - Capital goods - whether an assessee can avail Modvat/Cenvat credit on capital goods namely spares and stores, the value of which had been written off in the books of account and which were obsolete and not put to use during the relevant period? - whether an assessee can claim Cenvat credit on capital goods the value whereof has been written of in its books of account?

Summary

The High Court of Bombay ruled that an assessee can avail Modvat/Cenvat credit on capital goods written off in books but not obsolete, as long as they can still be utilized. The appeal was dismissed with no costs.