2004 (10) TMI 157 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Chennai allowed the appeal regarding Modvat credit of Rs. 3,40,200 denied on capital goods used for manufacturing Carded/Combed Cotton. The Tribunal ruled in favor of the assessee based on a previous decision stating that Carded/Combed Cotton was not excisable, allowing Modvat credit for capital goods used in its production for the manufacture of Cotton Yarn.