1998 (2) TMI 190

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..... for waiver of pre-deposit of duty of Rs. 1.2 lac. In this case, the benefit of Modvat credit in respect of capital goods, that is storage tanks, is denied to the applicants on the ground that storage tanks as such can neither be called as a machinery nor equipment/apparatus/spare parts of accessories of any capital goods. Shri R. Nambirajan, Advocate appearing on behalf of the applicants submit .....

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..... n this case, the benefit of Modvat credit on storage tanks is denied. The contention of the applicants is that storage tanks are necessary components in the plant for the manufacture of their final product. The Tribunal in the case of Metrochem Industries v. C.C.E. (supra) held that measuring tanks used for pumping into it measured quantity of the liquid of the raw material are necessary component .....

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