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2007 (6) TMI 451 - AT - Central ExciseCenvat/Modvat credit - Capital goods - denial of credit on the ground that the electricity generated by the co-generation plant was not wholly consumed within the sugar factory - Held that: - Modvat credit on capital goods could not be denied to an assessee under Rule 57Q on the ground of non-fulfilment of any condition set out under sub-rule (2) of Rule 57R. In other words, the availment of capital goods credit under Rule 57Q by the appellants on the components used in the manufacture of co-generation plant or for maintenance of the plant is not liable to be questioned on the ground that the surplus electricity generated was released out of the factory to TNEB grid - appeal allowed.
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