Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2017 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (9) TMI 338 - AT - Central ExciseCENVAT credit - capital goods - denial for the reason that these items have not been capitalized in the balance sheet of the appellant and also on the ground that these items are not used as component, spare and accessories of capital goods or pollution control equipment nor were they used for spare accessories or capital goods - Held that: - there is no requirement of capitalizing in balance sheet expenses on capital goods in the Central Excise law. The definition of capital goods in the Companies Act would determine which goods can be capitalized. The definition of capital goods in the Central Excise Act would determine the availability of credit on the goods - there is no doubt from the description given by the appellant that these goods had qualified as component and accessories of the capital goods and hence credit on these goods would be admissible - credit allowed - appeal allowed - decided in favor of appellant.
|