2001 (11) TMI 410 - AT - Central Excise

Summary

The appellate tribunal considered the liability of Modvat credit on certain substances used in manufacturing ball bearings and roller bearings. The tribunal allowed the appeal, stating that the substances were essential for preventing rust and maintaining precise parameters of the products. The penalty imposed on the appellant was set aside, and the liability for recovery of Rs. 2404.82 from an invoice issued by an unregistered supplier was not pressed by the appellant.