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2017 (5) TMI 1243 - AT - Central ExciseCENVAT credit - inputs - capital goods - It is the case of Revenue that the fabricated storage tanks will not amount to excisable goods and the inputs i.e. HR plates used and consumed for fabrication of such tanks cannot be considered as inputs or as capital goods for benefit of Cenvat credit; is a wrong perception and incorrect appreciation of law - Held that: - the said storage tanks are used by appellant for storage of crude oil and fabricated in the factory premises, denial of Cenvat credit of the central excise duty paid on such HR plates during the period February 2012 to March 2012 is incorrect. Reliance was placed in the case of COMMISSIONER OF CENTRAL EXCISE, BANGALORE-II Versus SLR STEELS LTD. [2012 (9) TMI 169 - KARNATAKA HIGH COURT], where it was held that Once a storage tank and pollution control equipment constitutes capital goods and any raw material purchased for construction of those goods, the duty paid could be utilized as a cenvat credit by the assessee notwithstanding the fact that the storage tank is an immovable property. CENVAT credit allowed - appeal allowed - decided in favor of appellant.
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