1999 (1) TMI 150 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, MADRAS dismissed the Revenue appeal regarding Modvat credit eligibility for inputs in stock when finished goods were fully exempted from duty. The Commissioner's decision was upheld based on previous Tribunal judgments, ruling that credit cannot be disallowed if finished goods were later exempted from duty. The appeal was dismissed as the Supreme Court judgment cited by Revenue was deemed not applicable to the case.