1998 (3) TMI 291 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi upheld the disallowance of Modvat credit of Rs. 5304 on fan coils, ruling they are not capital goods. The Tribunal cited a previous case where chilled water coils were considered capital goods. The Tribunal found in favor of the Respondents based on this precedent and rejected the Revenue Appeal.