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TMI Blog2010 (7) TMI 858X X X X Extracts X X X X X X X X Extracts X X X X ..... only covered as capital goods as per the definition. Therefore, while it is true that moulds are to be considered as capital goods, because of nature of definition, the shapes and sections which have been used for fabrication of moulds cannot be treated as capital goods - denial of credit upheld. Extended period of limitation - Held that: - the demand is time barred also cannot be accepted as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l goods; they used such shapes and sections to fabricate moulds; moulds were exempted under Notification No. 67/95 dated 16-3-95 as they were used within the factory of production. The original authority held that the goods cannot be treated as capital goods and denied the credit amounting to Rs. 38,052/- and ordered recovery of the same along with interest and imposed Rs. 38,052/- as penalty. Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . There can be no dispute that they are eligible for credit, under the circumstances there is no intention to evade any duty. 5. Learned DR reiterates the finding and reasoning of the Commissioner (Appeals). He submits that the part of the definition of capital goods, treating the components, spares and accessories of the goods meant for capital goods, also as capital goods does not apply to mou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... factory of the manufacturer of the final products, but does not include any equipment or appliances used in an office; or (2) For providing output service; 6.2 From the above, it is clear that the components, spares and accessories of the goods which are meant for Serial No. (i) and (ii) above are only covered as capital goods as per the definition. Therefore, while it is true that moulds ..... X X X X Extracts X X X X X X X X Extracts X X X X
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