1997 (8) TMI 243

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..... er per : V.P. Gulati, Vice President]. Inasmuch as these two appeals involve a common issue these are taken up together for disposal. The issue in the appeals relates to availability of Modvat credit in respect of capital goods i.e. Carding Unit and spares in terms of Rule 57Q of the Central Excise Rules. These machines are required for manufacture of cotton carded/combed which the assessee .....

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..... arded/combed so far as these two cases has to be held to be marketable. 2. The learned DR has pleaded that admittedly cotton carded/combed has emerged as an intermediate product and in respect of these machines in terms of Rule 57Q, Modvat credit would be available only if the product in question which emerged as intermediate product was specified under Rule 57Q. At the relevant time, under Tari .....

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..... r. 4. We have considered the pleas made by both the sides. Admittedly on the finding of the lower authority the goods were marketable and therefore the goods falling under 5202.00 stood excluded at the relevant time when the machine was purchased from the purview of Rule 57Q. Since by use of these machines, no specified item emerged at the relevant time of purchase of receipt in the factory, Mod .....

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