1998 (2) TMI 374 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai dismissed the appeals related to Modvat credit on aluminium bobbins used in twisting machines. The department claimed the bobbins were tools, not inputs, but the tribunal found in favor of the assessees, stating they could legitimately believe the bobbins were inputs. The tribunal also upheld the limitation defense raised by the assessees. The appeals were dismissed. (Case: 1998 (2) TMI 374 - CEGAT, Mumbai)