2001 (10) TMI 819 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai allowed the appeal filed by the appellant regarding Modvat credit on compressors, condenser, and solenoid valve used for air-conditioning. The goods were excluded from the definition of "capital goods" under Rule 57Q, so the appellant was not entitled to credit. The penalty imposed on the appellant was set aside as there was no evidence of willful misconduct. Appeal allowed in part.