1999 (9) TMI 423 - AT - Central Excise

Summary

The appellate tribunal upheld the decision of the Commissioner (Appeals) regarding the inadmissibility of modvat credit on V-Belts purchased from Hyderabad. The tribunal found that the process carried out by the appellants did not result in a new product emerging, and therefore, the credit taken on the belts was incorrect. The appeal was dismissed as the appellants failed to provide evidence of a new product resulting from the processes carried out.