2000 (3) TMI 780

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..... per : G.R. Sharma, Member (T)]. The issue for determination in this appeal is the eligibility to capital goods credit on two for one twisters for spun yarn used by the assessee for twisting two parallel single ply yarn into multiple yarn. The contention of the Revenue is that the credit is not available on this item since conversion of single ply yarn into multiple yarn does not amount to m .....

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..... essing or twisting etc. are deemed to amount to manufacture. Hence it is not open to the Revenue to argue that the processes carried out on the TFO machine do not amount to manufacture and that therefore, the TFO machine is not used for producing or processing of any goods. The decisions of the Hon ble Supreme Court relied upon by the Revenue in their appeal memorandum do not support the Revenue s .....

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