2012 (9) TMI 169 - KARNATAKA HIGH COURT

Cenvat Credit on steel and cement purchased for constructing a storage tank – 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 - appellate authority committed a serious error firstly in holding that the storage tank is an immovable property and secondly, on the ground that it cannot be bought and sold in the market, the criteria which is totally unwarranted - assessee is entitled to the benefit of cenvat credit - in favour of the assessee