2002 (1) TMI 67

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..... gaged in the manufacture of Hand Tools. It submitted its 'return' for the period from December, 1994 to March, 1995. It claimed Modvat credit of Rs. 66,175.20 P. This claim was rejected by the Assessing Officer on the ground that the Aloric Belt, Shaka Hearth and Grinding Wheel were not used for manufacturing or processing of finished goods as contemplated under the explanation to Rule 57Q of the .....

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..... of Rule 57Q. Is it so? 3.At the relevant time the capital goods under Rule 57Q of the Rules were defined as under :- "Machine, machinery, plant, equipment, apparatus, tools, appliances as well as their components, spare parts and accessories used for producing or processing of any goods or for bringing about any change in any substance for the manufacture of final product." A perusal of the .....

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