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2012 (6) TMI 696 - AT - Central ExciseDenial of CENVAT credit - steel items used in the manufacture of immovable property - application for waiver of pre-deposit - Held that:- As per Rule 2(k) of the CENVAT Credit Rules, 2004, to qualify for capital goods the item have to be goods first. “Goods” by definition are items which can come to the market for being bought and sold and they have to be movable in nature. Chimneys of power plants and storage silos are immovable properties and are not goods. Therefore, though storage tanks have been specified under capital goods, only such storage tanks which are ‘goods' can fall within the definition of capital goods. If the storage tanks are immovable property, they cannot come under the definition of capital goods - ‘capital assets' and ‘capital goods' cannot be held to be synonymous, thus, foundations and supporting structures imbedded to earth may be categorized as capital assets but would not qualify to be capital goods in terms of the definition contained in the Cenvat Credit Rules - the appellant has not made out any prima facie case for complete waiver of pre-deposit.
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