2005 (8) TMI 271 - AT - Central Excise

Summary

The Revenue appealed the denial of Modvat credit on capital goods received before 1-4-2000 under the compounded levy scheme. The Tribunal ruled in favor of the respondent, stating that Rule 57AC allows credit up to 50% in the financial year 2000-01, even if machinery was received before 1-4-2000 but installed after. The appeal was dismissed.